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*it's people being competitively compensated for their contributions to society* Sorry to nitpick .. you're describing meritocracy I think, as envisaged by fre
by rusk 9y ago
*it's people being competitively compensated for their contributions to society*
Sorry to nitpick .. you're describing meritocracy I think, as envisaged by free-market economics (which is entirely reasonable - to a point).
Capitalism isn't so much the emergent market behaviour as a system that provides a means to create and develop wealth (i.e. capital). The labour market is one aspect of this, but it's not exclusively tied to it.
*Capitalism is an economic system and an ideology based on private ownership of the means of production and their operation for profit.*
https://en.wikipedia.org/wiki/Capitalism https://en.wikipedia.org/wiki/Capitalism