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 encoura…
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
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.