Because, what you guys call capitalism, is not capitalism. The US is not capitalism since the creation of income tax, the FED, the anti-trust laws, the 60's war on poverty welfare programs, etc. And Saudi Arabia is a monarchy, where the ruler can just seize you if he wants.
Capitalism based on voluntary exchange of goods and services at the market produced by men in competition free of coercion, with private property and personal liberty at the absolute basic right.
Show me how can people in the US choose not to use state provided services, and in turn not to pay taxes, like a voluntary trade with companies, and i say you have capitalism in the US.
Show me a real private business forces you to buy its product. If it can than it is not a private business in capitalist terms.
Finally! Somebody who understands.
Thx Neofelis!
I have been reading this forum for months, and, actually reading your posts was the reason i registered! I can finally talk with someone from the "same page". :-)
Hello? Bitcoin? We issue it? :-) I mean that is the whole point!
Well, if You check the history of the US for example, till 1860, the US dollar issued by government was only ~4% of the total currency used in the territory of the US. The rest were all privately issued currencies and the economy managed to boom. So national fiat money - especially fiat money based on debt - is a very new thing which existed for no more than a 100 years on average. People tend to forget history about the born of banks "banca", which were at the beginning only changed the so many privately/county issued currencies.
That managed boom was pure luck of the fact they were based on a smaller scale. You take socialism now and you won't have filthy rich people, which let's be real that could be anyone of us here.