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Burns doesn't seem to understand that when leftists, or conservatives or liberals for that matter, refer to capitalism, they don't mean what Ayn Rand meant by it. They mean the system that is otherwise known as mercantilism, corporatism, state capitalism, or even fascism—a system in which huge corporations, aided by the state, dominate a heavily-regulated and centrally-directed economy. This is what both conservatives and liberals advocate, this is what the New Left opposed. One New Left guru, the late Murray Bookchin, told me thirty years ago in Boston that he had no quarrel with what Ayn Rand and Murray Rothbard meant by the term capitalism, a system in which people divide their labour, specialise in producing certain goods and services, and trade among themselves. Bookchin told me that he would say that that is not capitalism, though there are many different definitions. (en) |
