2 ms·
That there are a select few who own the capital, and that those people generally do not overlap with the people who work, is more or less the original definitio
by qhiliq 1y ago
That there are a select few who own the capital, and that those people generally do not overlap with the people who work, is more or less the original definition of capitalism. And I don't think its controversial or a caricature to imply that those two groups will have different incentives.
From Wikipedia [0]:
`The initial use of the term "capitalism" in its modern sense is attributed to Louis Blanc in 1850 ("What I call 'capitalism' that is to say the appropriation of capital by some to the exclusion of others") and Pierre-Joseph Proudhon in 1861 ("Economic and social regime in which capital, the source of income, does not generally belong to those who make it work through their labor")`
[0]: https://en.wikipedia.org/wiki/Capitalism#Etymology https://en.wikipedia.org/wiki/Capitalism#Etymology