3min chapter

Ideas Having Sex cover image

27. Tibor Rutar - Capitalism for Realists

Ideas Having Sex

CHAPTER

Are There Other Types of Exploitation in the Economy?

In feudalism, the rate of exploitation was much, much higher than in capitalism. The average peasant was exploited to the tune of 40 to 50%, or even more at certain periods. In highly concentrated industries, you do see wage markdowns but not high price markups. So it doesn't seem that customers are getting ripped off. Really existing capitalism definitely beats out really existing socialism or really existing feudalism.

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