Good that you distinguish between capitalism and corporate statism. What makes joint stock corporations possible is the government-granted privilege of limited liability. If people had to put their total personal net worth at risk whenever they invested in an enterprise, private enterprises could not grow to monopoly size, because no investor would want to take on that risk. In that case, the only entity willing to assume that risk would be government. As a result, all infrastructure projects, heavy industry and health care would remain in the hands of government, for the benefit of society, "socialism." In the "private sector," we'd be a "nation of shopkeepers."
Good that you distinguish between capitalism and corporate statism. What makes joint stock corporations possible is the government-granted privilege of limited liability. If people had to put their total personal net worth at risk whenever they invested in an enterprise, private enterprises could not grow to monopoly size, because no investor would want to take on that risk. In that case, the only entity willing to assume that risk would be government. As a result, all infrastructure projects, heavy industry and health care would remain in the hands of government, for the benefit of society, "socialism." In the "private sector," we'd be a "nation of shopkeepers."