Many people think they hate capitalism – while, in fact, they hate corporatism. This misunderstanding is why we can’t have nice things. If everyone understood what capitalism actually is, they would endorse it, and we would all be much better off.

Capitalism only means respect of private property and maximal freedom (and minimal state interference), which allows people to fully pursue their goals and be effective doing it.

Corporatism (which they call capitalism) is very different and hating it is not an exclusive domain of communists and anarchists. Pretty much everyone, including libertarians, hates it. It is characterized by powerful corporations or other entities having a strong grip on the state, using its power (regulations, wars, etc.) to prevent competition and eventually control everything.

Clearly, it is very different from capitalism. A relevant worry though is, as some claim, that capitalism will always converge into it (similar to communism always ending up an authoritarian totality). This can certainly happen, although the inevitability is questionable. The transition there would require large consolidation of the businesses together with large growth of the state power. Either part can be prevented, theoretically – through maintaining a high level of freedom. Competition (which requires freedom) prevents any business from growing too large, and freedom is an antithesis to a large and powerful state. But whether that is possible is unclear – freedom seems to be fighting a losing battle throughout the world.

Most vocal capitalism haters may not be satisfied by these answers. But if you consider the steps that are needed for this transition, it is what you get with communism right away. A powerful state, and a few people controlling everything. Only instead of a few CEO’s and politicians, it is the top party officials. In other words, if transitioning from capitalism to corporatism is like slowly sinking into a swamp, introducing communism is like jumping straight legs into a cesspool.