Thinkers on the Left blame the current financial crisis on the excesses of capitalism. Free-market partisans say it’s the government’s fault. Distributists say they’re both right, and their “third way” philosophy has a lot of appeal to the majority of Americans who are somewhere in the middle between socialism and laissez-faire, and yet recognize that [...]

“Conventional economic theories exclude the changing thought patterns and modes of doing business that bring on a crisis. They even exclude the loss of trust and confidence. They exclude the sense of fairness that inhibits the wage and price flexibility that could possibly stabilize an economy. They exclude the role of corruption and the sale [...]

When the economic crisis becomes acute, when the rate of profit sinks towards zero, the bourgeoisie can see only one way to restore its profits: it empties the pockets of the people down to the last centime. It resorts to what M. Caillaux, once finance minister of France, expressively calls “the great penance”: brutal slashing [...]

Some people who attack capitalism don’t realize they are capitalists themselves. Their indictment of capitalism is an indictment of themselves.

For the time being, at least, the United States of America is still considered a “capitalist” country. But what does this mean? What would it take to make the U.S. not a “capitalist” nation, but a “socialist” one?
Generally, a country is considered to be more “capitalist” to the extent that it’s societal functions are handled [...]