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That's markets, not capitalism. Capitalism is specifically the arrangement where the means of production can be bought and sold (on the market). It's only been
by jtolmar 7y ago
That's markets, not capitalism. Capitalism is specifically the arrangement where the means of production can be bought and sold (on the market). It's only been around since the industrial revolution - prior to that the means of production were too simple to do this sort of thing with, and there was just land and labor. Markets have been around a lot longer.
Non-capitalist but still market-based systems are possible. You can have worker ownership (worker co-ops like Bob's Red Mill), consumer ownership (consumer co-ops like REI), state ownership (national healthcare or municipal utility companies), or some mix of them. These organizations can and often do still compete with each other on the market.