3 ms·

How do you define "modern capitalism?"

• FatherCadan 9y ago
  Anything pre-dating the fractional reserve system. Allowing entities to create value from no effort is not raising capital. Fractional Reserve systems lessen the skin-in-the-game spoken of earlier and transfer to societal decision making from the people doing the work and taking the risk to bureaucracies that are 'too big to fail'.
  • dogruck 9y ago
    Interesting. Now I'm gunna go read up on those concepts. TIL.