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If we are nit picking... What I am talking about is free market capitalism. The definition you quote talks about trade and industry - which we can reduce down t
by sjclemmy 10y ago
If we are nit picking...
What I am talking about is free market capitalism. The definition you quote talks about trade and industry - which we can reduce down to calling the means of production. Capitalism is about ownership of the means of production for private gain. It doesn't exclude government ownership of resources / means of production or indeed and perhaps most importantly the money system. I think you could even argue that public ownership of the money system facilitates the capitalist economy. What does the central bank / federal reserve do?