Pretty good definition of capitalism. My simple version is Rule by the owners of capital - land, money, factories, etc. The 1%. It has nothing to do with freedom or even free trade, entrepreneurship, individual responsibility, the Rule of Law (independent judiciary), or even private property, in the sense of individuals owning their own work and the products therefrom. Use the Marxist terms Finance Capitalism(what we have, now), or Monopoly Capitalism (how we got here).
Posted on: Tue, 02 Sep 2014 07:36:23 +0000
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