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by asdff
34 days ago
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You are conflating the modern form but I am considering its most base definition. From Merriam Webster: "an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market" This would satisfy the modern interpretation of capitalism as well as the ancient Phoenician traders engaging in real time free market price discovery when on trade voyages. Trade has been complex for a very long time. Consider the famous complaint tablet to Ea-nāṣir. These men were clearly capitalists little different than the commodity traders of today. They probably did not do their own fishing either, leaving that for the fishermen, focusing on copper and perhaps other commodities profiting off arbitrage and using that to pay for their survival. |
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