Free-market Capitalism has helped a great many people who have been poor and down and out, move up the economic ladder, move up in mobility and has fostered the creative power and genius of individuals far better than other economic system that has existed and failed such as socialism, communism, fascism and feudalism. Capitalism as a system is not, nor it has ever been, a four letter word as some people would have us believe. However, what is an abomination to free-market capitalism, and freedom overall, is crony capitalism.
Crony Capitalism (Or State Capitalism as it is also called) entails government enacting laws, rules, regulations, tax monies and favoritism to one business over another. For example, if a small pharmaceutical company had founded a medicine to cure cancer and went to the Food and Drug Administration to get it approved, a bigger company with vast resources, money and lobbyists can influence am FDA bureaucrat or a politician to sit on the approval for years or reject it entirely. Another example would be when a regulation is enacted that forces smaller companies into compliance so that bigger companies do not face head to head competition. Or, when tax monies are given to companies because they are politically favored or to keep these companies afloat so they do not have face situations like bankruptcy or reorganization when the market is not to their liking.
Crony Capitalism, State Capitalism, is the norm in countries such as Argentina, Communist China, France, Italy and, sadly, the U.S. If people should be outraged and angry that anger should not be directed at Capitalism, but at governments the choose winners and losers. By showing no favoritism of one entity over another, society, freedom, the economy and free-markets can flourish. It is only when Crony Capitalism occurs that everything stays stagnant and stale. When government practices economic neutrality, equality of opportunity can bloom, and that is what real capitalism is all about.