TheOneWithAReallyLongName on Nostr: Yeah, and the point was that these are, in fact, still capitalist in nature. You want ...
Yeah, and the point was that these are, in fact, still capitalist in nature. You want a hard definition, fine, let's look at Britannica:
"capitalism, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets."
https://www.britannica.com/money/capitalism
Big business privately owns the means of production and depends on the operation of markets to get their profits. That sounds inherently capitalistic to me.
Wall Street privately owns businesses and the products they produce, and it exists practically *entirely* to exploit the operation of markets to skim profits.
Both depend on ownership of capital to gain profits through markets, not by virtue of labor.
This all looks pretty inherently capitalistic to me. You can argue that the individuals are motivated by profits and not by the ideals of capitalism, but the systems they're using the gain those profits look pretty capitalistic to me.
"capitalism, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets."
https://www.britannica.com/money/capitalism
Big business privately owns the means of production and depends on the operation of markets to get their profits. That sounds inherently capitalistic to me.
Wall Street privately owns businesses and the products they produce, and it exists practically *entirely* to exploit the operation of markets to skim profits.
Both depend on ownership of capital to gain profits through markets, not by virtue of labor.
This all looks pretty inherently capitalistic to me. You can argue that the individuals are motivated by profits and not by the ideals of capitalism, but the systems they're using the gain those profits look pretty capitalistic to me.