"Capitalism" is used as the label for the policy one might more precisely describe as "regulatory minimalism"; the philosophy that opposes minimum wage laws, that opposes collective bargaining by employees, that opposes safety and environmental regulation, that opposes universal health care, etcetera.

This philosophy is associated with the term "capitalism" because its proponents tar any improvement of the social contract, acknowledgement of climate change, or balancing of negotiating power as "socialism/communism"- terms used interchangeably as a boogeyman rather than for any engagable definition, but always pitted as the opposite of "capitalism".