ryan on Nostr: Ever notice how the only people who use the word "capitalism" are socialists and ...

Ever notice how the only people who use the word "capitalism" are socialists and communists who use the word as a pejorative? They see the current system of corporatism - the unholy mix of government and corporate interests divvying up economic spoils - and they call it "capitalism". Is it any wonder they want something else?

Before this modern redefinition, the term meant simply a decentralized economic system driven by barter and mutual consent. Proponents of such a system today use terms like "free trade".