this post was submitted on 11 Dec 2023
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Okay, fair enough, I did miss that part apparently.
Is it fair to say, then, that according to your definition, communism is just capitalism but with democratized production?
Those two concepts are incompatible. I’m assuming we’re both American so you’ve probably heard that capitalism means free market exchange of goods and services but that’s actually just commerce and is a feature of every economic system. The defining trait of capitalism is actually that one guy can own the means of production and is entitled to the capital produced. Whereas in socialism and communism there is no private ownership of production.