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by kelseyfrog
37 days ago
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> What we really mean when we say “capitalism” is just people freely engaging in agreements together. That is untrue. Capitalism the private ownership of production. It's a set of behaviors and legal protections[state enforcement] that allow companies to be bought, sold, and owned. It's defined by a number of constituent elements: private property, profit motive, capital accumulation, competitive markets, commodification, and wage labor. It is not synonymous with simple free association. |
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