Fun Facts to Know and Tell: Capitalism, Capital and Corporations
Just a few scattered thoughts:
- Universities are corporations
- It is probably closer to the truth to appreciate that non-profits exist to serve the interests of their donors and workers more than they do their stated “charitable” objective
- Almost every entity that engages in some kind of production and planning, from the most wild free-market agencies to the socialy-ist of the socialist entities are … capitalist. Note the little “c” here. Ask yourselves, what is capital, and hence what does the appendage “-ist” or “ism” imply? Do not universities or foreign aid charities or free government health programs or K12 education systems or even state development and planning agencies use capital? What is capital but a factor that is itself produced (from land/materials/labor) for the purposes of producing something else. There is some foregone consumption in order to produce it, so that “we” can have more “stuff” in future. Find me any economic entity that does not employ it.
The key distinctions ought to focus not on weak usages of terms that no one understands. The key distinctions is whether we recognize the ability of individuals to own property in themselves and then other material things, or not. When you hear someone discussing some particular “-ism” and using it in “analysis” it is very helpful to clarify exactly what we are all talking about.