My simple suggestion is that you read Basic Economics by Thomas Sowell or for a fuller understanding of economics: Human Action by Ludwig von Mises. Every worker is a capitalist—skilled or unskilled. According to Mises, “capitalism is an economic system defined by a particular set of institutions, which include private property in t…
My simple suggestion is that you read Basic Economics by Thomas Sowell or for a fuller understanding of economics: Human Action by Ludwig von Mises. Every worker is a capitalist—skilled or unskilled. According to Mises, “capitalism is an economic system defined by a particular set of institutions, which include private property in the means of production (i.e. land, labor, and capital) and freedom of contract under the rule of law.”
It seems to me that Von Mises' definition proves my point - 'capitalism is an economic system defined by a particular set of institutions' Some of these institutions have only been around for 2-300 years, and they did not exist under Feudalism.
We seem to have a fundamentally different approach to where wealth comes from - I would encourage you to read Kropotkin's 'Our Riches' if you'd like to understand a different view - https://peacefulrevolutionary.substack.com/p/our-riches
Nate,
My simple suggestion is that you read Basic Economics by Thomas Sowell or for a fuller understanding of economics: Human Action by Ludwig von Mises. Every worker is a capitalist—skilled or unskilled. According to Mises, “capitalism is an economic system defined by a particular set of institutions, which include private property in the means of production (i.e. land, labor, and capital) and freedom of contract under the rule of law.”
It seems to me that Von Mises' definition proves my point - 'capitalism is an economic system defined by a particular set of institutions' Some of these institutions have only been around for 2-300 years, and they did not exist under Feudalism.
We seem to have a fundamentally different approach to where wealth comes from - I would encourage you to read Kropotkin's 'Our Riches' if you'd like to understand a different view - https://peacefulrevolutionary.substack.com/p/our-riches
I don't consider Sowell or Von Mises a serious economist, nor do most economists. They are right-wing philosophers, and I disagree with the basic assumptions of their philosophies. Maybe I'll do a review of 'Basic Economics' one of these days, although others economist don't seem to take it seriously - https://www.reddit.com/r/AskEconomics/comments/11d652t/is_basic_economics_by_thomas_sowell_a_good_book/
Well then read FA Hayek: Mises was his mentor.