this post was submitted on 21 Sep 2023
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I can see why you would think that. I think this video explains it well https://www.youtube.com/watch?v=xDPPig9JR5Y.
TL;DW: Capitalism in it's true form was "I give you this, you give me that". Exchange of goods. And from that perspective, it has worked. But now that nobody sells stuff anymore but holds you or the goods you want hostage, it has devolved back to the old system of feudalism where you live somewhere and the king asks for your work and money so you can live there.
I'm not saying thats the only way to look at it but I find the explanation pretty good. It would explain why so many people who are actually very good at trading things struggle in this climate now while others now thrive who have no clue how to produce viable products.
Trading goods isn't capitalism. Trading goods has existed for thousands upon thousands of years. Capitalism has only existed for a few hundred years.
I know you mean well, but this speaks to a deep educational misunderstanding about what capitalism is. If you are interested in learning about what it is, how it functions and how it relates to and differs from previous systems I am up for helping out with a short 101 and making recommendations for further reading.
Sure! Feel free. I mean, I can read wikipedia and it basically says „private ownership of the means of production used for profit.“ as well as „competitive markets“ which are not what we are seeing nowadays.
I‘m used to being misunderstood due to my differently wired brain but I‘m always eager to learn. So hit me. :)
The correct one is „private ownership of the means of production used for profit.“ Capitalism is about having capital, that is, some thing that makes other people give you money, but you don't lose it when they give you money, like a factory, brand loyalty or IP rights. Competitive markets stifle this, so capitalists try to eliminate the competition and they've been succeeding. It's not like trading. In trading you give me money for my coal, but I don't have the coal any more so I have to dig more coal from the ground to get more money.