3 ms·
As I outlined, markets != capitalism. It seems you've wandered far away from my whole point. Free markets, entrepeneurialism are a part of contemporary US capit
by PaulDavisThe1st 3y ago
As I outlined, markets != capitalism. It seems you've wandered far away from my whole point. Free markets, entrepeneurialism are a part of contemporary US capitalism, but they can also exist in systems that are not capitalist.
For a system to be capitalist, it requires additional features, and the most significant of these is the way the rewards of human ventures are distributed (i.e. primarily towards those who invest capital rather than labor or IP in the venture).
- mikhailfranco 3y agoYou can define capitalism however you like, but nobody can define away the thriving labor market that obviously exists in the western world - even with all the distortions and regulations. The labor market affects how rewards are shared between capital and labor. Nobody has to agree with your unique and special definition.