4 ms·
>Capitalism is not only defined by the accumulation of capital, but also by competition That's wrong. In reality, the mere theoretical potential for competitio
by jdksmdbtbdnmsm 3y ago
>Capitalism is not only defined by the accumulation of capital, but also by competition
That's wrong. In reality, the mere theoretical potential for competition has always been more than enough to call it capitalism from any perspective. The facts are that actual competition is not a requirement.
- pi-e-sigma 3y agoCapitalism is simple: The capital rules supreme. As opposed to the previous system of aristocracy, where it was the land owners. Nobody would seriously claim that aristocracy requires any kind of competition between the aristocrats. Even the very first capitalist big enterprises, such as East India Company were created as _monopolies_