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If you pursue corruption, you are corrupt. If you pursue cronyism, you are a crony. Capitalism is an economic system where voluntary transactions and commonly
by humanrebar 8y ago
If you pursue corruption, you are corrupt. If you pursue cronyism, you are a crony.
Capitalism is an economic system where voluntary transactions and commonly accessible markets are essential. Let's not muddle terminology to get in political digs.
You seem to be complaining most about when capitalism ends or fails, not capitalism itself.
- vkou 8y agoCapitalism is an economic system where the means of production, and the profits that derive from them, are controlled by private owners (capitalists). That's it. Accessible markets and voluntary transactions, and all that other stuff is window dressing. If they actually were sufficient for capitalism, then an economic system where the profits of all enterprise were state-owned, but all transactions were voluntary would also be capitalism (Despite the noteworthy absence of... capitalists.)
- humanrebar 8y agoIf markets are inaccessible, transactions involuntary, and markets rigged, production isn't controlled by private actors, at least not completely. At best you'd be talking about a partially capitalist system with another major element involved.