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Of all the delusions about economic system, the one that capitalism is about anything but free markets is the most hilarious You can mock it, but that's the wh
by protomyth 11y ago
Of all the delusions about economic system, the one that capitalism is about anything but free markets is the most hilarious
You can mock it, but that's the whole point
- rodgerd 11y agoThe point of capitalism is return on capital. The ultimate return will be generated by monopolies, duopolies, or cartels. Capitalism is fundamentally antagonistic to free markets.
- protomyth 11y agoyou seem to be talking about what theseatoms mentioned, because capitalism is nicely summarized by Wikipedia as: Capitalism is an economic system based on private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system, and competitive markets. In a capitalist market economy, decision-making and investment is determined by the owners of the factors of production in financial and capital markets, and prices and the distribution of goods are mainly determined by competition in the market.