I had planned a long argument here, but hopefully this shorter version will be more useful in resolving (if not magically dissolving) at least a few of the bones of contention on this subject.
From Merriam-Webster, emphasis added:
capitalism : an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market
A free market is a deal-breaker for me. Even if free market Friedmanism were a valid theory and worked just the way it was supposed to, the result would inevitably be tyranny though oligarchy. I can not and will not and never have supported capitalism.
free enterprise : freedom of private business to organize and operate for profit in a competitive system without interference by government beyond regulation necessary to protect public interest and keep the national economy in balance
For now, consider me a
http://www.first-team.us/journals/div_arty/fep_saga/">free enterprise patriot.