Describing anything that has some market forces as capitalism, despite the amount of intervention or cronyism seems quite undisciplined. To define capitalism as what is happening at some time period is sloppy at best. To call green red seems contradictory, but to use terms that are formed on a contradiction seems quite normal in today's discourse. To define a term as not descriptive but as conceptual relies on a need for understanding not just political speak.
Capitalism can be defined as free enterprise with the free movement of capital in the private sector.
One of the myths about capitalism is the boom and bust cycle. Entire policies and bureaucracies are built on this myth. In the video at right the myth of the Great Depression caused by the unstable nature of capitalism is examined. For more on this topic see this Link.
We should also examine the assessment of capitalism in the manner as to how it is discredited. The term is used to describe a certain set of circumstances, data found to discredit, and then the system is dismissed. This approach is based on the idea that something that is called capitalism must have perfect participants in order to be justified, leaves a lot to be desired. If this same approach was applied to government then all governments would easily be dismissed as unworkable.
In this video the quiet spoken advocate of Conscious Capitalism speaks out on the general topic.
Capitalism does have an image problem certainly. Is this self inflicted as the Occupiers want us to believe or is it a condition that is being constructed for other motives.
As does freedom have its detractors, so does Capitalism. Economics and consumption offers some insights. As well can Europe recover from its social agenda or will it continue to nudge closer to momentum in its decline? Much needs to be sorted out by the citizens of the nation with the closest to a capitalistic experiment, although we are in this country taking a detour at the moment.