Capitalism is the moral (rational-self-interest), political (individualism), legal (rule of law), economic (free-market) social system based on the principle of individual rights that results in peace, progress, and human flourishing.
Politically, a capitalist is an advocate of laissez-faire capitalism, regardless of how rich or poor they are.
The term capitalism is used here in the broader philosophical, political sense (social system), and not in the narrower economic sense (market economy). Capitalism is not just an economic system (the free market) that can be grafted onto any political structure....
Capitalism is the ideal social system as it leaves the individual free to be moral — free to act rationally in the pursuit of happiness — so long as one respects the equal right of others to do the same.
If capitalism is the expression of individualism; statism is the expression of collectivism.
Under capitalism, it is the powers of the government that are regulated so that the inalienable rights of the individual are protected.
Economically, when freedom under the rule of law is applied to the sphere of production and trade, its result is the free market in goods, services, relationships, and ideas.
Capitalism is the ideal moral, ethical, political, legal, economic social system of the Enlightenment that results in peace, progress, and human flourishing.
“Corresponding to the four branches of philosophy, the four keystones of capitalism are: metaphysically, the requirements of man’s nature and survival—epistemologically, reason—ethically, individual rights, politically, freedom.” — Ayn Rand
The intellectuals despise Capitalism because it stands a monument in opposition to their fundamental principles.
Laissez-faire capitalism should not be confused with anarchism, where the government does absolutely nothing.