“Capitalism as it is used in common discourse, refers to a decision making-methodology in it’s narrowest form, and a general bias in it’s broader form, that is used by members of a population that describes a broad spectrum of property definitions from the most several (individual) property, to the most shareholder (collective) forms of property, the entire spectrum of which requires calculable means of planning production, and the transfer between individuals by voluntary means — and which specifically prohibits transfer by involuntary means. This institutional bias, it’s property definitions, the modes of transfer, and the means of dispute resolution, can be represented along a second axis describing a broad spectrum of enforcement mechanisms from the most informal and voluntary, which rely entirely upon the power of ostracization and opportunity deprivation, to the most formal and involuntary, which rely upon a contract called a constitution that enumerates property rights and exceptions, either written and explicit or oral and traditional, and that includes a judiciary that resolves disputes according to those enumerated rights and exceptions no matter how they are encoded.’
An anarchist might argue that capitalism consists of individual property rights (informal+individual). A classical liberal would argue that capitalism consists of individual property rights that are constitutionally administered (Individual+Formal). A communist would argue that property is entirely shareholder driven and at least according to marx, rules would be unnecessary under communism (Shareholder + informal). A democratic socialist would argue that property is communal, and divided up for purely utilitarian purposes, and that laws and administration are needed (Shareholder + Formal).
All current political philosophies incorporate the notion of property rights, since economic calculation is impossible without them. The current argument is that all individuals in an economy are shareholders (which is hard to refute), and that because they are shareholders they are due dividends. Our ancestors solved this problem by suggesting that freedom was sufficient compensation for shareholders. ‘Input freedom’ or ‘freedom of opportunity’. This means that there are no involuntary transfers allowed.
Property requires institutions because institutions are required to defend property.
The private law society, and it’s progenitor the monarchy, are superior forms of government.
They are perhaps the best form of government ever invented.