There are some new kids on the libertarian block. Their group is called Libertarians Against Capitalism .... They describe themselves as follows:"We are a group of libertarians who understand that historically the word ‘capitalism’ has meant, not the free market, but crony capitalism – that is, collusion between business and State at the expense of consumers/workers. Thus we refuse to use the word ‘capitalism’ to describe what we favor: individual liberty in all respects and free, competitive markets. We believe that what we have today IS capitalism – and we oppose it."
I say, let us hang on to all the words we can, up to and certainly including "capitalism." ....
Yes, indeed, what we have nowadays "IS capitalism"; that is, crony capitalism, not laissez faire capitalism. In order to progress from the former to the latter, we need all the verbal tools we can lay our hands on. And, one of them is certainly "capitalism."
Yes, "capitalism" was originally used as a slur against those of us who favor private property rights, free trade and economic liberty. But, instead of abjuring this word, we should adopt borrow a leaf from homosexuals and blacks. "Faggot" and "queer" were initially used to deprecate the former. Instead of running from these words, they proudly adopted them as their own. A similar situation has taken place with regard to the "N" word, within the black community. There, it is often used not as an insult, but as a badge of honor. Should we libertarians be less "in your face" than these groups of people? No, say I. They have thumbed their noses at their detractors, and so should we.