Capitalism as defined in Wikipedia is an economic system in which wealth, and the means of producing wealth, are privately owned and controlled rather than state owned and controlled.
Capitalist as defined by Karl Marx in his book Das Kapital is an individual who owns working capital including machinery and makes money by letting others work on those machines.
A corporation is defined a separate legal entity, usually used to conduct business, often maybe always, legally equal to an Individual.
Before I begin, for the most part, the definition of Capitalism and Corporation is just a definition, whereas the definition of a Capitalist is a widely accepted opinion, but ‘Is It A Fact’.
This is undoubtedly one of my most touched upon topics, off the web, perhaps in the future on the web too. I defend all that is good about Capitalism, all that is good about the capitalist way of life! I defend them because I feel they are grossly misunderstood, I defend them because the true meaning of being capitalist seems to have been forgotten.
For some reason, the majority of the people I have come across, try and apply the literal ‘if A=B, and B=C then A=C’ formula to this concept. It is believed by a lot of people that the statement ‘an individual who owns working capital’ literally means ‘a corporation’, and logically this is incorrect!
I am of the opinion that Max Weber and the folks who touched on the same topics in the centuries before him, nailed the definition of capitalism correctly. In the book ‘The Protestant Ethic and the Spirit of Capitalism’ Weber explains that people, individuals, living in todays secular world, engage in work, to establish their own enterprises/estates/legacies, and engage in trade and accumulation of wealth.
Benjamin Franklin, while not the first person, but still a significant one, recognized that ‘Time is Money’. Education today is in place to develop and/or hone the skill we possess, we like the best paying jobs, the best paying professions, the best way to capitalize our time, our efforts, whatever it takes. Most of us, want a better car, a better house, a better … whatever. I believe Marx got it wrong, we humans are the machinery, our energy and time is our working capital, we own ourselves, a statement that comes from the basic fact that we always have a choice!
The reason I defend Capitalism, is not just for my love for all the things money can buy, its because i believe people do not understand, that if they are capitalizing, and earning or trying or wishing to earn anything more than a survival, they are capitalists. Of course there are exceptions, the exceptions rich or poor for now can be put under a general category, the self-actualized.
Of course, like I mentioned recently to someone, Capitalism in term of a music genre is like Rock, while the general category for Pink Floyd, U2, Sting and Mark Knopfler is Rock in reality it would be unjust to not mentioned that they can be further classified as progressive rock, psychedelic rock, post-punk rock, alternative rock, classical rock, celtic rock, country and blues! Similarly you dont have to be a stereotypical Reblican, you maybe a liberal-capitalist, social-capitalist, neo-capitalist … hell if you do agree with me so far, create your own sub-genre!
And if you do not agree with me, I want to know what you think, lets talk, lets debate, lets argue!
‘Is This a Fact’, for the most part, hell no, just my opinions.
Thanks for your comment on my blog entry “What Capitalism?” While I’m not personally keen on debating or arguing concepts I sometimes have time for discussion, though like all resources such time is scarce. I’d offer to you a comment on “facts” as being more than opinions, but things with a referent in reality, whether physical evidence for the senses or more complex concepts open to “philosophical detection” or breaking down to referents which can ultimately be traced to the evidence of the senses. Anyway, thanks again, and “Trade on.”\
Podritske