I apologize in advance for generalizing here and there. The point holds. “Capitalism” is what people do when they’re not having sex (and sometimes even then). It is the most powerful economic engine we know about. “Socialism” is the discipline of maximizing overall human welfare within the economic limits. The engine and the steering wheel so to speak. I’m willing to bet those definitions are in no dictionary, but th…
> “Capitalism” is what people do when they’re not having sex (and sometimes even then). It is the most powerful economic engine we know about. Capitalism is when people does stuff. Capitalism is a system where the Earth's resources and means of production (factories, machines, etc.) are privately owned. You can have voluntary exchange without that - https://en.wikipedia.org/wiki/Market_socialism
Probably the best balance between accessibility and rigor on why that’s provably utter nonsense is “Debt: The First 5000 Years” by David Graeber.
Now I know I’m going to piss off the Ayn Rand crowd, but I’m not concerned about that for two reasons:
1. Anyone who enjoys lectures about feeding the poor to one another written by an embittered old author living on fucking welfare is beyond my help. Bonus points: was tight with Greenspan who fucked up on, pretty much everything.
2. I don’t have an HN account older than some hackers with 1k karma on it because I play to the crowd. Quite the contrary. But as a cute sidebar: I make things people want. Never needed a Loopt-style backroom back rub.