Larger text provided via recommendation of Shawn. :^)
One of the most infuriating things for an aspiring capitalist pig like myself is the fact that far too many people confuse capitalism--and free markets--with mercantalism and other variants of fascism, the "bundling" of the state and private enterprise.
One of the chief ways that the debate is misrepresented is when the managerial class presents itself as entrepreneurs or "bourgeois pigs." Let's compare the historical "bourgeoisie" with the modern manager and see if this holds.
The historic root of the word "bourgeois" is the French word for "castle," "bourg." The Bourgeoisie were those who conducted their business nearly in the shadow of the prince's castle, and their needs from the prince were few; protection from those who would steal their livelihood being chief. In putting their own resources (capital) at risk, they transformed medieval Europe.
In contrast, corporate managers are "hirelings", using the company's resources to reduce risk, preserve market share and too often to extract favors from government. This should not surprise us; the very core of socialism and fascism is, of course, the idea that someone else ought to manage our lives for us.
Podcast #221: Reach Your Peak - Where does greatness come from? Why was Ted Williams the greatest hitter in the history of baseball? What made Mozart one of history’s most talented compos...
4 hours ago