----------------- HES POSTING ----------------- 
 
Capitalism was a term used by Marx to define what he believed was the current  
economic stage in human development. Although his definition and analysis  
were cast in the negative, his historical take on the origins of the system  
were pretty good in some areas.  
 
Pigou, in his Socialism Versus Capitalism, I believe has more accurately  
defined what a Capitalistic industry is and therefore what must follow if we  
are to correctly define an economy as Capitalistic.  
 
How does one make a  distinction between a "market economy" versus a "free  
market economy"? I think if it's made along the IO lines, that is, perfect  
competition versus imperfect competition, then I think they could both be  
considered as Capitalistic enterprises and nothing has really been  
accomplished as far as the big picture concerning Capitalism versus Socialism. 
 
Chas Anderson 
 
------------ FOOTER TO HES POSTING ------------ 
For information, send the message "info HES" to [log in to unmask]