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capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.

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capitalism, also called free market economy or free enterprise economy, economic system, dominant in the Western world since the breakup of feudalism, in which most means of production are privately owned and production is guided and income distributed largely through the operation of markets.
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Pyperkub (pyperkub@mastodon.social)'s status on Tuesday, 08-Aug-2023 18:19:27 JST Pyperkub
in reply to

@RD4Anarchy @HeavenlyPossum @pluralistic From Britannica - you are still conflating "monopoly/oligopoly" with "capitalism". The point being that what we have is NOT a free market based economy (Defn of Capitalism here), based on market principles, but rather an oligopoly based on monopolistic principles. That is what #enshittification is all about - Rent Seeking through Monopoly.

In conversation about a year ago from mastodon.social permalink