CAPITALISM: EP. 1
We are surrounded by the idea of capitalism but shockingly little thought is commonly given to what it is, where it has come from and where we are likely going. An attempt to rectify this in a new series. The standard definition of Capitalism:
Private ownership of the means of production and distribution.
Market-based exchange, where goods and services are produced for profit.
Competition, which drives efficiency and innovation.
Minimal government intervention, though the degree varies (e.g., laissez-faire vs. regulated capitalism).
Marx included Exploitation, wage labor and class conflict . . .
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