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It's not a free market and thus not capitalism (I am ready to be corrected on any of these points). Capitalism is about private ownership of the means of produ
by EliRivers 7y ago
It's not a free market and thus not capitalism (I am ready to be corrected on any of these points).
Capitalism is about private ownership of the means of production. It often goes hand-in-hand with free markets, but they're not the same thing.
- larnmar 7y agoAnd this is why arguing about “capitalism” is pointless, there’s a bunch of incompatible definitions. You are using a definition closer to Marx’s, while the GP is using a definition closer to Rand’s. (Most people use a fizzier definition than either of these.) Just let these definitional arguments go, they’re not interesting or valuable.
- tempguy9999 7y agoLet them go and you have no definitional basis on which to argue, and then how can you engage? I can't see any debate can be at all possible like that. As a general principle agree your definitions before you lock horns and you'll start getting somewhere, if no further than agreeing to disagree.
- cinquemb 7y ago> It often goes hand-in-hand with free markets, but they're not the same thing. As an example, interest rate fixing by central banks in DM countries is anathema to free markets and price discovery; yet ownership of production is privatized.