Originally posted by SpontaneousOrder
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I am talking about etimology. -
I gave a meaning of capitalism not a definition. If you ever communicate with someone in real life you might get to understand that communication is not a matter of expressing everything literally.Originally posted by clearedforlanding View PostLet us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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I wouldn't use wikipedia as a source of authority. But...Originally posted by clearedforlanding View Post
The Economist.Capitalism
The winner, at least for now, of the battle of economic 'isms'. Capitalism is a free-market system built on private ownership, in particular, the idea that owners of CAPITAL havePROPERTY RIGHTS that entitle them to earn a PROFIT as a reward for putting their capital at RISK in some form of economic activity. Opinion (and practice) differs considerably among capitalist countries about what role the state should play in the economy. But everyone agrees that, at the very least, for capitalism to work the state must be strong enough to guarantee property rights. According to Karl MARX, capitalism contains the seeds of its own destruction, but so far this has proved a more accurate description of Marx's progeny, COMMUNISM.
Oxford dictionary.An economic and political system in which a country’s trade and industry are controlled by private owners for profit, rather than by the state:an era of free-market capitalismprivate ownership is a key feature of capitalism'
Investopedia.DEFINITION of 'Capitalism'
A system of economics based on the private ownership of capital and production inputs, and on the production of goods and services for profit. The production of goods and services is based on supply and demand in the general market (market economy), rather than through central planning (planned economy). Capitalism is generally characterized by competition between producers. Other facets, such as the participation of government in production and regulation, vary across models of capitalism.
Read more: Capitalism Definition | Investopedia Capitalism Definition | Investopedia
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It is extraordinary that in true Geek style everyone is talking about the wording of the question rather than the point that was being made. Are you lot really so stupid?Let us not forget EU open doors immigration benefits IT contractors more than anyoneComment
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I do. If ever you are on the bench I'll give you a gig replacing swiftkey for me. xOriginally posted by SpontaneousOrder View PostComment
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Originally posted by DodgyAgent View Post
We're just trying to discuss things down at a level you can cope with.
Dodgy Capitalism: Ignore others, it's all about yourself. The consequences of your actions are irrelevant if they do not affect you. If someone else does something that affects you, you have the right to sue them. The person with the most money when they die is the winner.
Socialism: Work with others for the benefit of society. Make money, but be prepared to help those who are in need (not in want).
Example of socialism in action: We drive on the left hand side of the road in the UK. That is a society-based action which is for the benefit of society. Capitalism in action: Hog the overtaking lane(s) and never pull over, after all it's your right and pulling over might help someone else.…Maybe we ain’t that young anymoreComment
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My post responding to the wikipedia entry turns out to be redundant now I read it again.
The bit in bold is what makes "blah blah blah economics 101" wrong. If the bit in bold didn't exist it'd be a bad definition - but it does exist.Capitalism is an economic system based on private ownership of the means of production and the creation of goods and services for profitComment
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