Thoughts on economics and liberty

I am an unadulterated, 100 per cent capitalist – and I am very proud of it

The brainwashing of India that started with Nehru has not ended. I won't go into the incident which prompted the following email, but let me assert with all seriousness and rigour I can muster that I am a capitalist.

I UNAMBIGUOUSLY advocate capitalism. It is the most moral system, the system of the "Levellers" (John Lilburne), the philosophy of the Whigs, the "system of natural liberty" of Adam Smith.

I wrote a very clear blog post about it here.

(Edited) EXTRACT FROM AN EMAIL I SENT A SHORT WHILE AGO:

One economist (Adam Smith) called this "system of natural liberty". Another economist, who was following the totalitarian statist Hegel, called it "capitalism" in a derogatory way, to contrast with his version of the new economy he referred to as socialism (communism).

ALL socialists since then have used the word capitalism in a derogatory way – to mock it; as if they held copyright to morality. In truth, socialist societies were (and are) the most corrupt, hypocritical, and in many cases – murderous societies imaginable. Hitler too was from the same stable: of Hegel and Marx (his was "National Socialist").
 
The distortion of language that started with Marx 150 years ago was carried on by Nehru, and he succeeded in brainwashing everyone in India.
 
But we are classical liberals. We are taking India back to the true system of liberty that Adam Smith had detailed in The Wealth of Nations.
 
We must never use the word capitalism in a derogatory sense, else we would have lost the battle against socialists EVEN BEFORE WE HAVE STARTED.
 
 
We are CAPITALISTS and must be proud to be capitalists. We are promoting the OPPOSITE of socialism. The word that stands for the opposite system of socialism is capitalism.
 
So let's never denigrate capitalism.
 
Let me add that I DON'T believe in crony capitalism (being practiced in India), hyper-capitalism (being practiced in Russia), or under-hand capitalism (being practiced in China). And I don't advocate "unbridled capitalism".
 
What I mean by capitalism is nothing less nor more than what Adam Smith meant when he used the phrase "the system of natural liberty".
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