- Aug 27, 2008
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As for the Fed being "the quintessential example of a capitalist enterprise," I hope you're joking. The organization created by the federal government, with its head appointed by the President, with a monopoly right to create currency out of thin air is about as far from capitalism as one can get.
Only if you are a purist. In reality the federal reserve is the best example of actual real life capitalism that ever existed. The best example of what capitalist ideologues commonly espouse as capitalism.
And communism by your terms has never existed. Neither has socialism. Neither has democracy, or free markets or liberals, conservatives or even nationalists.
Raise the bar too high and all of your catch phrases die at once.
I don't think saying that anything created by the government can't possibly be capitalistic in nature is raising the bar too high. I think that's just common sense.