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I find that computational complexity provides a reasonable way to define capitalism as to distinguish it from other economic models. Only under capitalism is it
by slaymaker1907 5y ago
I find that computational complexity provides a reasonable way to define capitalism as to distinguish it from other economic models. Only under capitalism is it possible for wealth to grow exponentially (which will exceed almost any other possible growth function with respect to time) since you can make wealth by virtue of already having wealth. It also helps explain the origins of wealth inequality since when growth is determined solely by current value, it is not bound in the same way that one's labor is.
Some people assume that capitalism is simply supply/demand or the presence of markets, but I think that ignores the fact that markets have seemingly existed for far longer than capitalism.