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Depends on your definition of capitalism. The original Adam Smith capitalism basically called for a nation of small businesses - ultra decentralized. Modern Am
by matthest 2y ago
Depends on your definition of capitalism.
The original Adam Smith capitalism basically called for a nation of small businesses - ultra decentralized. Modern American industries are very far from that. Some might argue they're more like state-sponsored organizations. Which definitely wouldn't be Adam Smith's capitalism.
- keybored 2y agoBook 1, chapter 7: The workers want to work as little as possible and get as high a wage as possible while the employers want the workers to work as much as possible and for as small of a wage as possible ... yet it is obvious that the employers have an upper hand in this standoff, being easier to organize since they are smaller in number, having more funds to live off of, and by the fact that they in practice enlist the state to go after workers. I was talking about the only capitalism that has existed.