Hi all,
I’m seeing a lot of hate for capitalism here, and I’m wondering why that is and what the rationale behind it is. I’m pretty pro-capitalism myself, so I want to see the logic on the other side of the fence.
If this isn’t the right forum for a political/economic discussion-- I’m happy to take this somewhere else.
Cheers!
Please explain-- what gymnastics?
Wikipedia definition of capitalism:
Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.
If slaves don’t have private ownership… then they’re not living under a capitalist system. Right? What am I missing?
Slaves don’t have private ownership of their capital (that is, their own labor)… because someone else does.
Most “free” workers, in terms of capital, own only their own labor.
Capitalists own the majority of the capital–land, equipment, intellectual property, etc.
A system where the workers own the capital (aka the means of production) is socialism.
