Central Travel on It is a matter of degree. Similarly, capitalism is conditioned by culture. It is not the same in the United States as in, say, Japan, Brazil, Germany, or South Korea. If government suppresses the power of markets too much”through taxes, restrictions, regulations, subsidies, and politically inspired privileges” then capitalism is a misnomer.
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It is a label without meaning. Similarly, if culture checks markets too much”by, for example, awarding wealth and status on the basis of birth, custom, political connections, or corruption”then capitalism is also a misnomer. Capitalism is always a work in progress, and at the dawn of the 21st century, this is especially true.
Central Travel 2016.