Was the US founded as a capitalist nation? In part, the answer depends on what you mean by capitalism. So, let's ask the question from a slightly different perspective: Was the US founded as a capitalist nation, according to our current understanding of the word? The answer has to be an unequivocal no, particularly as regards the role of the corporation in economic activity. At the time of the American Revolution, the role of the corporation in American life was fundamentally different than it is today. My question is this: What happened to 'originalism' and 'strict construction' when it comes to the rights and responsibilities of corporations?
What's described here is clearly not free market Capitalism. I wonder if corporations hiring illegal immigrants, and outsourcing jobs would have been tolerated? (I suppose that would have fallen under public harm)
Capitalism isn't defined by "the role of corportations" so I don't see what your point is. I mean, I see it, but it's a very bad point.
I agree with the others. Corporatism is a worthy topic, but it doesn't equate to capitalism as a whole.
The means of production were privately owned and operated, so the United States was a capitalist nation. The role of corporations is completely irrelevant.
The evolution of incorporation has no relevance to whether or not we were founded on capitalism. Hell, you can legally create a trust on a piece of notebook paper with a crayon now.
When it came to things like homesteading there is at least an argument that there was some early socialism going on. I have read that during the lead up to the revolution, there was a general agreement among the colonies about freezing prices to ensure that there was no run away inflation as well should that have become necessary, especially once the war was won. We were really a mercantile-oriented society probably until at least the creation of the federal reserve though it was more an evolutionary process from mercantilism to capitalism than a revolutionary one.
capitalism is an economic system controlled by price moves. The US was founded upon an economic system based upon barter. So, yes, it was capitalistic to the extent that values were established voluntarily.
Capitalism is a system where the means of production are owned privately. The nation was not founded on barter. We've always used currency.
Sure but I think that the refusal to honor WWI bonds in gold that secured them was probably the last real gasp of mercantilism as we stumbled into a system that is more wide-spread capitalist as we know it today. To speak metaphorically, that was about the time the house was roughed in economically and we moved in and started decorating it.
We have the same rights corporately that we enjoy singly. What silliness to claim the rights that a single person has, suddenly evaporate as soon as they act as a group!
Seems to me, completely disregarding the native societies that had been the sole occupants of the land mass that is the US, the foundations of the US saw multiple footholds simply seeking religious freedom, vast wealth from mythical cities of Gold, finding new trade routes to the East, tax revenue for the British Crown... I may have missed a few. Our Foundations are many & varied.
As a libertarian, I agree emphatically. Corporations are a tool of fascist state-industry collusion. They are anti-Capitalist in nature. Much of them could be salvaged (there's nothing inherently wrong with selling t-shirts as Target), but not without significant legal reshuffling.
The main impetus for the US system were the Enlightenment ideas that had been developing in Europe. The ideas of equality, freedom from oppression, religious freedom and general liberty for all.
