Unveiling the Myth: Capitalism and the Illusion of Free Market “Capitalism is agnostic about political systems” (Rodrik, 2011) The conflation of "capitalism" and "free markets" obscures fundamental differences between these concepts, particularly when viewed through the lens of the colonial era (1500–1950 CE). Capitalism, defined by private ownership and profit-driven production, thrived on coercive systems like slavery and mercantilism, which were antithetical to free markets—idealized systems of voluntary exchange with minimal state intervention. This analysis delves into the colonial era’s economic distortions, capitalism’s growth within unfree systems, and the deliberate narrative equating the two, which serves vested interests. The note critiques how this conflation legitimizes exploitation, resists regulation, and obscures inequality. Historical case studies, modern parallels, and philosophical reflections highlight the ethical and practical challenges of ...