The Corporate State: Libertarian Enemy Number One
...the great threat to liberty is the corporate state, otherwise known as corporatism, state capitalism, and political capitalism....
Libertarianism is radical not conservative, and laissez faire protects no vested interests. Libertarians once were highly sensitive to this point. The great 19th-century champions of the market, such as Benjamin Tucker and the contributors to his Liberty magazine, thought of themselves as “free-market socialists” because they wanted no part of “capitalism,” which they viewed as the historical system in which government intervenes in behalf of capital and to the detriment of common workers. The word still denotes that for many, perhaps most, people....
On the international stage, this danger is writ large. The United States is assumed to favor free markets (“capitalism”), so when it meddles in other countries, supports dictators, and encourages (or imposes) interventionist economic measures, that is seen as consistent with the free-market philosophy. Resentment against those policies becomes resentment against the free market. This has done untold damage to the libertarian cause where it should have flourished. If capitalism means feudalism (stealing land from peasants), virtually forced labor in factories and mines, and wholesale violations of civil liberties (including torture), who would want any part of it?
Similarly, if capitalism at home means a system rigged in favor of cartelized industries and a nearly prohibitive regulatory/tax morass for small and would-be competitors, who needs it?
In other words, U.S. policy for years has made anti-capitalism appealing to millions of people at home and abroad by associating capitalism with corporatism and imperialism. These people should be libertarians.
And some "libertarians" have made anti-capitalism appealing to millions by associating capitalism with corporatism and imperialism. For example: ASI agitprop like the piece linked in my previous post, which is conservative and does protect vested interests.