Capitalism is the best worst solution and structures all of modern society – will inevitably re-emerge
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Does that seem like a stretch? Rothbard explains that the term capitalism itself was coined by its greatest enemy Karl Marx, and ever since the term has conflated two very different ideas: free-market capitalism, on the one hand, and state capitalism, on the other. As Rothbard explains, capitalism is nothing but the system that emerges in the framework of free exchange of property and the absence of government efforts to stop it. Whether you are talking about buying a newspaper from a vendor or a group of stockholders hiring a CEO, the essence of the exchange is the same: two parties finding ways to benefit by the trade goods and services. the essence of statecraft is always coercion whereas the essence of markets is always voluntarism. In Rothbard's conception, it is not quite correct to characterize support for free markets as either right or left. In 1973, he heard as many complaints about the supposed greed unleashed by markets from the followers of Russell Kirk as he did from the new left socialists. The right, in fact, was afflicted with a serious intellectual attachment to pre-capitalistic institutional forms of monopoly privilege, militarism, and the unrelenting drive to war. socialism was, as Rothbard put it, "essentially a confused, middle-of-the-road movement." Its supposed goal of liberty, peace, and prosperity was to be achieved through the imposition of new forms of regimentation, mercantilism, and feudalism. It was precisely the productive power of market, as versus the dead-end of statist methods favored by both left and right, that led Rothbard to see that the gains of capitalism could not finally be reversed. the advent of industrialism and the Industrial Revolution has irreversibly changed the prognosis for freedom and statism. In the pre-industrial era, statism and despotism could peg along indefinitely, content to keep the peasantry at subsistence levels and to live off their surplus. But industrialism has broken the old tables; for it has become evident that socialism cannot run an industrial system, and it is gradually becoming evident that neomercantilism, interventionism, in the long run cannot run an industrial system either. Free-market capi­talism, the victory of social power and the economic means, is not only the only moral and by far the most productive system; it has become the only viable system for mankind in the industrial era. Its eventual triumph is therefore virtually inevitable." markets work and government do not.