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2/12/2021 09:56:00 AM
Thanks for the points. I think we are in agreement that a generally accepted definition of capitalism should be more prominently displayed on this subreddit. However, I think that the definition you propose >Capitalism is just a term to recognize a person's ability to create a corporate entity that is governed by its shareholders is pretty far from any accepted one I have ever seen. That ability is something allowed under capitalism, but as I think I stated correctly in my post, raising a mercenary army is also "*acceptable under capitalism,"* unless some other legal system outside of capitalism prohibits it. Careful understanding of "what capitalism the economic system is" vs "those things that are acceptable under capitalism" is an important part of recognizing what is good and what is bad about the system. In connection with my main point, free markets are acceptable under capitalism, but are distinct from the economic system itself.