yes that's interesting what you say about capitalism, andrew. and this is also a problematical strand that runs through the american libertarian-type tradition, why it's infested with randians, e.g. sometimes. what that kind of libertarian needs to understand is the ways that corporate capitalism is in itself a form of oppressive power. we need to scout alternatives, e.g. josiah warren. but capitalism too runs all the way to the founding and is not only circumstantially connected to the basic theory and history of democracy.

that is, the connecton between capitalism and the american conception of liberty is intrinsic, while the connection between that conception and racism is completely contingent. so: an important dimension of freedom is to dispose of your resources as you see fit, to purchase what you want and can afford, and so on. this is why in a republican rhetoric, transforming china into a capitalist economy would entail transforming its polity into a democracy, which appears false.

at any rate, i really think the task for the libertarian right has to be to come up with something more inspiring - even in pure economic theory - than nonstop acquisition or accumulation. it has to take seriously that severe inequality of resources and severe poverty are severe limitations on freedom, that the leverage of employers etc is a real form of power, even in a case of voluntary-seeming contracts.

one angle on this might be provided by the basic idea of squishy totalitarianism. so the libertarian types stop celebrating the american economy as gloriously capitalistic, and start criticizing it on the ground that state and economy have merged here, as in china. this at least gets you out of defending the status quo, and is compatible with a celebration of small business and entrepreneurialism etc.