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"Economic system based on private ownership of the means of production and the creation of goods or services for profit" no not capitalism, governance.
by beprogrammed 5y ago
"Economic system based on private ownership of the means of production and the creation of goods or services for profit" no not capitalism, governance.
- __MatrixMan__ 5y agoNot sure that presenting a definition of capitalism gets it off the hook here. When you don't have a remote third party (the capitalist) involved in your transactions, things are simpler. You can just ask: is the person I'm doing business with creating more problems than they solve? And then not do business with them if the answer is yes. If you acknowledge property rights that justify the involvement of capitalists in your transaction, you now have to also ask the same question of them and weigh those answers against the first. It's much harder to figure out who's agenda you're furthering with your money--so most people just don't bother. Both parties blame this abstraction that hangs over their business and neither takes responsibility for its consequences. The invisible hand ends up being a scapegoat and nothing changes.