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I think you are describing free markets, not capitalism. Capitalism means accumulation of capital through any means possible. Sometimes monopolies are examples
by dh2022 2y ago
I think you are describing free markets, not capitalism. Capitalism means accumulation of capital through any means possible. Sometimes monopolies are examples of capitalism.
- robertlagrant 2y ago[flagged]
- matthest 2y agoI guess it depends on which definition you use at this point, but Adam Smith's original definition of capitalism fundamentally required free markets. Of course, what we have today is not Adam Smith's capitalism.