[MD] Capitalism and "the free market" was: (redux ad nauseum)

[craigerb at comcast.net]

[Stella]
> [Adam Smith]'s turning at several mph in his grave. 

He's probably gone metric by now.

[Stella]  
> We have 1) definitions of a free market, 
> then we have 3) the live thing we call the free market, and then 2) there 
> are several economic theories and practices, one of which is called 
> Capitalism...I bet that isn't how any of you perceive it, 
> though. {MY RENUMBERING, FOR THE PURPOSES BELOW}

That's exactly how I perceive it.  In fact I think all intellectualizing should proceed:
1) establish/clarify definitions/concepts
2) see how they would apply to theoretical/hypothetical/idealized/simplified situations
3) see how they apply to the real world situation

1) is important in order to establish communication & to avoid logical mistakes or misdescription.
2) is important to test the relations & evaluations between concepts established in 1).
3) is important to test 2) against the real world.

Many times people will argue against Capitalism by bringing up colonialism, slavery, etc., even though
those faults occur in every economic system, even to this day.  By going through steps 1) & 2) one can see if those faults are inherent to the system or not & whether, & by what means, they can be avoided.
Craig