nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak says that the distinguishing characteristic of a capitalistic society has been that it has a free stock market. Agree? (His argument is then that fiat money effectively makes the stock market irrelevant because it gives central banks infinite capacity to manipulate prices, i.e. capitalism can't survive under fiat in the long run)
He's borrowing from Mises, who said a functioning stock market is a useful way to sort mixed economies into "capitalist" and "socialist".
Personally, I agree with Hoppe that all "mixed" economies are just versions of socialism. A capitalist society, by definition, respects private property rights and voluntary interactions between consenting adults.
What are all the hallmarks or litmus tests of a "mixed" economy?
I just think it's a misnomer. They're just socialist economies that allow people different freedoms, but none of them fundamentally respect private property rights.
Another way to put it is that socialist governments claim the ultimate right to use of all property. A capitalist "government" would respect the individual's ultimate right to decide how their property is used.
