Economic Myths #8 – Capitalism is Exploitative

[First published on Free Life]

The myth that capitalism is exploitative – or rather, that capitalists and entrepreneurs are responsible for the exploitation of both workers and consumers – is almost as old as the history of this political-economic system itself, having been a primary driving force behind the growth of the state and, indeed, of outright socialist and communist revolution. Although much watered down from those early days, the idea that there is some kind of antagonism between the capitalist “class” and the rest of us seems to persist.

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Out-Innovating the State: Entrepreneurship and the Fight for Liberty

A key question for libertarian activists is the extent to which the circumvention of unjust laws imposed by the state can serve as part of a political strategy. A prominent, if somewhat extreme example from recent times is Ross Ulbricht, who went as far as actually breaking a whole plethora of narcotics laws by operating the darknet (i.e. black market) site “Silk Road”. As a result, he was convicted, in February 2015, of a whole raft of offences, including conspiracy to traffic narcotics.

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