| ▲ | powerclue 2 hours ago | |
That's not what capitalism is... or it's a very elementary understanding of it. Trade without force existed prior to and contemporary to capitalism. (See markets and mercantilism for more history there.) Capitalism is specifically the sort of mercantilism under which maximizing one's capital (typically the money commodity) becomes the aim. Historically, money commodity was used to mediate exchange between two other commodities - I sell my wheat, get money, use money to buy pork. I'm buying commodities because I intend to use them or share them. Commodity -> money -> commodity. Capitalism inverts this -- the goal is to maximize money. I start with money, I convert it to a commodity that I can sell for a greater value, to get larger money. Money -> commodity -> money. You see Amazon operate this way: "if we can put one dollar in and get $1.01 out, do it". Highly recommend this book on the transition in England and France from agrarian and feudal mercantilism into capitalism in the 18th and 19th centuries: https://en.wikipedia.org/wiki/The_Origin_of_Capitalism | ||
| ▲ | skylurk an hour ago | parent | next [-] | |
Not sure about the currency vs commodity argument, but I agree with this argument linked article: > Thus it argues that the origin of capitalism lies fundamentally in social property relations rather than in trade and commerce. Capitalism is fundamentally a framework for ownership and property. | ||
| ▲ | KetoManx64 41 minutes ago | parent | prev [-] | |
Thank you for that correction, I did oversimplify it. > Capitalism inverts this -- the goal is to maximize money. I start with money, I convert it to a commodity that I can sell for a greater value, to get larger money. Money -> commodity -> money. You see Amazon operate this way: "if we can put one dollar in and get $1.01 out, do it". Yes, that is correct and there is nothing wrong with this as long as there is no coercion happening (eg. Government involvement, lobbying and over regulation). Every person on earth should have the right to put in $1 into something and try to get $1.01 from it. You and I and every other individual get to then decide if we want to give that business owner that $1.01 or go to a competitor. In a truly free market, that business owner only earns that $1.01 profit by providing a good or service that voluntary customers value at more than the price they pay. The profit is the reward for creating value for others We currently live in a crony-capitalist world which has a lot of issues, but it's still much better than the 200m+ that have died under Marxism and Communism in the last 100 years. | ||