This Is Not Capitalism
28th August 2024
The word capitalism has no stable definition and should probably be permanently retired. That won’t happen, however, because too many people are invested in its use and abuse.
Indeed. The widespread use of ‘capitalism’ is based on Marx’s discussion of ‘the capitalist means of production’ in the beginning of Das Kapital, but really boils down to ‘buying machines run by workers in order to produce stuff’–the most accurate term for which is industrialism, because it’s used in all modern forms of production (including those used by socialists and communists).