Webster's defines capitalism as an "economic system in which the means of production and distribution are privately owned, and operated for PROFIT". Notice the complete lack of mention of government in this definition. What is it that the left in this country hates so much about the very idea which allowed this country to become the dominant economic power that it was in such a short time? What logic prescribes a move away from this economic system at a time when our economy is suffering from far to much government intervention as it is.It really comes down to the collectivist premise on which they base their ideology. The battle of the two competing ideologies has been going on since the very founding of this great country. Perhaps a better definition of this battle would be Collectivism vs. Capitalism, with collectivism being defined as the "collective (government) ownership and/or control of the means of production." The current economic ideology that identifies with collectivism is socialism, based mostly on the philosophy of Karl Marx and Freidrich Engels. Accordingly, when a government, under the guise of the "social good", seeks to take over property and the means of production it is labeled as socialist.
Whenever you see the words appear in discussions about the economy such as "the common good", or "social responsibility", or the "public interest", then free citizens beware. This terminology derives from the liberal axiom "from each according to his ability, to each according to his need". Distilled down this is the redistribution of your wealth. The only way that wealth can be redistributed is by taking it form one who creates it and giving it to someone who will not, at the point of a gun. In a free society, this is the very opposite of liberty and freedom.
A capitalist looks at the landscape, identifies a niche in the market where he can profit, and moves forward to do just that. The leftist/socialist looks out to determine where they can take the most from. A capitalist society glorifies rational self interest and the creation of wealth. A leftist/socialist, unable to create wealth of their own, drain it from those who do. A government based on a capitalist premise uses force only to protect the rights of it's citizens, including the right to property and wealth. A leftist/socialist government uses it's force to expropriate from it's able citizens under the guise of the "common good".
Now, where do you think Obama and his advisers (Czars) stand in this battle? Based on their words and actions I would not say they are on the capitalist side.
