Time to redefine capitalism

As a new subscriber here, let's recognize that the term capitalism used here is false and misleading. Better to be objective and begina with an object when capitalism began when the value of nature's bounty was first recognized; natural assets such as water, food, and shelter. They're all value propositions and in their  absence, life itself isn't possible. "Nature's bounty" is an interesting term when bountiful might explain the way that man has taken natural assets for granted until contemporary times to a large extent. Thankfully, there's a move afoot to recognize finite resources and distinguish them from renewable resources as well as the introduction of sustainability as a concept applicable to managing resources.

If my first paragraph seems abstract or obtuse, if failure to recognize natural assets as capital was initially overlooked for the most part, then capitalism didn't begin until humans recognized the value of their first the possessions — our earliest tools and our first clothing. Later, the recognition of skill and cooperation created human capital.

Later on, as humans interacted and found common purpose in hunting and gathering, and in defense against different perils, social capital arose.

Rather than a complete history of the human race, I think I've made my point. Capitalism is a natural by-product of human nature and has been around since the dawn of time.

Capitalism and economics — Every man for himself has always been a losing proposition. Natural capital, human capital, social capital led to hunting and gathering in small groups, fashioing tools and weapons, clothing ourselves, building shelters, and beginning to acquire the necessities of life by pursuing common objectives. Naturally, there was a division of labor and before the luxury of a voluntary exchange of labor, food, clothing, shelter, tools, and weapons there was the compulsory provision of labor to obtain the necessities of life.

We evolved and now there are 7.4 billion of us, by that measure, we're thriving. Along the way, trade and commerce and the need for mediums of exchange, Whether through barter or other means (money), we learned to facilitate our transactions.

It's 2015 and so-called capitalism is the worst economic system known to man, except for all the others. Warts and all, any imperfections, such as monopoly, oligopoly, monopsony (sole supplier), are defined and different remedies have been proposed and implemented with vrying degrees of success. However, explotation and cronyism are not economic issues but subjects to be treated with a multi-disciplinary approach. Social norms, community standards, traditions, and the rule of law are some of the ways we have used to deal with imperfect markets and less than ideal circumstances. We've tried many different ways to organize ourselves for better or worse.

In The Karate Kid, Mr. Miyagi said, "Balance is everything, balance is key." It means that socialism and capitalism as dogma are both absurd and that a mixed economy moving forward and improving as we go along offers the best future for us. In a mixed economy, maximizing profit is the greatest good but it can't occur without incentives and rewards, sanctions and prohibitions, nor can it neglect the young, the old, or the infirm. Natural capital, human capital, and social capital, can't be subordinated to financial capital, a point that socialists misinterpret and carry too far with a bizarre belief that a cadre of elite central planners can somehow replace the countless decisions made by individuals in deciding how goods, services, and other value propositions are weighed, measured, and exchanged.