28 ms·
> Capitalism is simply the economic system for the extraction of wealth from the poor to the wealthy where once it was from the poor to the monarch and the arti
by smitty1e 3y ago
> Capitalism is simply the economic system for the extraction of wealth from the poor to the wealthy where once it was from the poor to the monarch and the artistocratic class (ie feudalism). That's it. Someone will be tempted to pipe up with something about "free markets". Markets are commerce. They happen in every economic system.
Capitalism is buyer, seller, marketplace, and sufficient regulation to prevent sellers from buying the marketplace.
Materialism, not captialism, leads to the class distinctions that the Marxists fetish (as they boost themselves into aristocracy while shrilly claiming to give a French frigate's fo'c's'le about the workers).
The proper remedy for the excesses of capitalism is ensuring competition in the marketplace, to stabilize the system.
- gaganyaan 3y agoNo: > The meaning "political/economic system which encourages capitalists" is recorded from 1872 and originally was used disparagingly by socialists. https://www.etymonline.com/word/capitalism https://www.etymonline.com/word/capitalism
- smitty1e 3y agoAnd I'm encouraging a revisitation of that definition, for the reason set forth above.