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The statist-left co-opted the term liberal, the statist-right co-opted the term capitalism, etc. I try to avoid the definition game, too. It never leads anywhere, that's all I'm saying, too. Whenever and wherever libertarians are accusing one another of being mindless statists, there's probably a semantic disagreement. And that doesn't
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You might want to listen to some of Roger Garrison's lectures available in mp3 format here on mises.org Or, if you can find anything that he's written on the structure of production, that might help, too. Garrison does a pretty good job of explaining it with Hayekian triangles and some pretty awesome powerpoint graphics.
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You think fiat money is a "benefit"? lulz.
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Yes, but the person ends up being innocent they will have been kidnappers. So how do you justify ex ante kidnapping? One school of thought is that an individual would have no obligation to submit himself to any court of any jurisdiction - even one over which his own PDA presides (since he is free to void the contract with said PDA at any time). This
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we're already biting that bullet! :) But also, there's a difference between putting something in to practice (like Liberty) through agorism or whatever, and arguing semantics with someone who thinks that capitalism = state-sponsored corporatism. You probably can't convince people that their definition (and the definition held by most) is
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Sooner or later, if there aren't enough people who "understand" the proper (your) definition of capitalism, you're just going to have to bite the bullet and use the definition accepted by everyone else. Although I agree wholeheartedly that Mises' treatment of the term is pretty accurate, practically nobody accepts that definition
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"But fractional reserve banking would work even without a govt or a expanding money supply." Why would anyone treat a fractionally-backed dollar on par with a fully-backed dollar? They wouldn't. "There is lots of confusion out here about what fractional reseve banking is. All that fractional reserve banking is, is lending out deposit