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> My definition of capitalism is the accepted one Yeah, no. That would fly in the face of feudalism, mercantilism, socialism and communism. All of those are ec
by braiamp 3y ago
> My definition of capitalism is the accepted one
Yeah, no. That would fly in the face of feudalism, mercantilism, socialism and communism. All of those are economic systems based on who owns the means of production. If your definition of capitalism isn't coherent with all of those, then it's not a correct one.
- thaumasiotes 3y ago> That would fly in the face of feudalism, mercantilism, socialism and communism. All of those are economic systems based on who owns the means of production. That's definitional for communism, but mercantilism? I understand mercantilism to be a policy focused on ensuring that national imports of gold exceed national gold exports, and feudalism to be mostly distinguished by the inability to sell land. (Alternatively, feudalism might be characterized by a very weak central state that has delegated the authority to rule (or that just never possessed such authority). But that's more of a view of the political structure than the economic structure.)