Real Capitalism Hasn't Happened Yet
In your review of The Future of Capitalism, it is important to point out that real, pure capitalism has never existed on this planet ("Is capitalism headed for a new dark age?" Books, Mar. 11). Capitalism's proper definition is: "the societal structure that protects all forms of property completely." This and political societies--social structures based on coercion--are mutually exclusive concepts. In such societies, there can only be partial protection of secondary property (tangible property), while there is no protection for primary (intellectual) property. And little room for primordial property (life itself). The solution is a social structure that is not based on coercive concepts such as the regulatory system.
William W. Morgan
King's Lynn, England