Hacker News new | ask | show | jobs
by dunkelheit 3929 days ago
Capitalism (i.e. accumulation of resources in private hands with the goal of employing it for generation of profit) should not be conflated with free market (i.e. roughly equal individuals engaging in voluntary transactions). They are in fact antithetical! For capitalism to work some individuals must be entitled for more resources than others so that these individuals can tell others what to do. Of course you can then argue that everybody is still engaging in voluntary transactions. But is it really so when the balance of power is so skewed?