In this post Professor Steve Horwitz comments on the fact that younger people are favorably inclined toward “libertarian” but much less so when asked about “capitalism.” Why? Well, maybe because they erroneously associate the current economic mess with “capitalism” even though capitalism had nothing to do with the antics of the Fed, Fannie Mae and Freddie Mac, bailouts, etc.
Maybe we should ditch “capitalism.” In any event, it’s vital to get people to understand that our economic malaise is due to government meddling, not the system of voluntary investment, production and trade (“capitalism”) that has mostly been driven out of existence through government meddling.