"Corporations are properly associated with mercantilism, rather than capitalism. Mercantilism is a system under which government grants special status to one or more company at the expense of its competitors. The British East India Company, for example, possessed an exclusive, royally-granted 'right' to conduct trade between India and China, on the one hand, and the British Empire for more than 250 years. Private capitalism, by contrast, is a system under which various enterprises compete in the marketplace by offering the highest quality goods and services they can, at the lowest possible prices. Progress occurs as individuals and companies strive to raise quality and lower prices."
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Activists from the United StatesNovelists from the United StatesEssayists from the United StatesPolitical activistsLibertarian Party (United States) politicians
Original Language: English
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"Corporations, Mercantilism, and Capitalism," 27 June 2010.
https://en.wikiquote.org/wiki/L._Neil_Smith
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L. Neil Smith
Lester Neil Smith III (12 May 1946 – 27 August 2021), also known by his nickname El Neil, was a libertarian science fiction author and political activist, whose works include the novels Pallas, The Forge of the Elders, and The Probablity Broach, each of which won the Libertarian Futurist Society's annual Prometheus Award for best libertarian novel.
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