Answering Prof. Gavin Kennedy

Gavin Kennedy a professor in Edinburgh, UK publishes a blog entitled, “Adam Smith’s Lost Legacy.”  Recently, he came across the FreeCapitalist.com website and wrote a critique of the article(s) entitled, “Why Capitalism?”  
I am responding to his critique here.  I’ll place Prof. Kennedy’s statements in quotes, and I’ll respond in normal text.  
Professor Kennedy Writes: [...]

Why use the term ‘Capitalist’ in the name of an organization like this?

Man can redefine words, but he cannot redefine the truth.  For the sake of consistency, for the sake of clear communication, for the sake of following a powerful path laid out by many of freedom’s most effective advocates, FreeCapitalists have purposefully elected to use the term Capitalism to identify our movement.  Members of the Project [...]

What is Capitalism?

Capitalism is a philosophy founded upon individual rights and the principle of personal liberty.  It is also properly described as a social system based on the recognition of individual rights, in which all property is privately owned.
In the most relevant sense the term “capitalism” most commonly references to the social, economic and political system aimed [...]

Why Capitalism?

Questions about capitalism are appropriately directed to the Project on a regular basis.  While I generally tend to answer these questions privately, a number of questions are asked regularly and repeatedly.  So, while much more could be written on each question, for the sake of urgency, clarity and for addressing the larger audiences that visit [...]