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I'm pretty sure that the way it worked is the vast majority of wealth accumulated with the King and 7-10 people close to the King. Everyone else... was not impo
by indymike 5y ago
I'm pretty sure that the way it worked is the vast majority of wealth accumulated with the King and 7-10 people close to the King. Everyone else... was not important to the King. Capitalism is simply an economic system where regular people can own the means of production. It is not about distributing rewards. That is the language of a feudal economy.
- beaconstudios 5y agoA system can distribute rewards just as a person can. If acting in the capitalist economy incentivises specific behaviours, that economy is distributing rewards based on those incentives.
- indymike 5y agoSystems are operated by people, which is why many great ideas on paper devolve into dictatorships, oppression and death in real life. See Ukraine for an example.
- beaconstudios 5y agoPutin's dictatorship is operated by a person, but capitalism is not - it's made of people. Nobody runs the markets, they run by themselves based on people's participation, governed by rules. Invisible hand and all that.
- indymike 5y agoYou are correct about Putin.