this post was submitted on 21 Jul 2023
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What is the definition of capitalism? Is it compatible with people owning the things they produce? (reddthat.com)
submitted 1 year ago* (last edited 1 year ago) by [email protected] to c/[email protected]
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@[email protected] asked "why are folks so anti-capitalist?" not long ago. It got quite a few comments. But I noticed a trend: a lot of people there didn't agree on the definition of "capitalism".

And the lack of common definition was hobbling the entire discussion. So I wanted to ask a precursor question. One that needs to be asked before anybody can even start talking about whether capitalism is helpful or good or necessary.

Main Question

  • What is capitalism?
  • Since your answer above likely included the word "capital", what is capital?
  • And either,
    • A) How does capitalism empower people to own what they produce? or, (if you believe the opposite,)
    • B) How does capitalism strip people of their control over what they produce?

Bonus Questions (mix and match or take them all or ignore them altogether)

  1. Say you are an individual who sells something you create. Are you a capitalist?
  2. If you are the above person, can you exist in both capitalist society and one in which private property has been abolished?
  3. Say you create and sell some product regularly (as above), but have more orders than you can fulfill alone. Is there any way to expand your operation and meet demand without using capitalist methods (such as hiring wage workers or selling your recipes / process to local franchisees for a cut of their proceeds, etc)?
  4. Is the distinction between a worker cooperative and a more traditional business important? Why is the distinction important?
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[โ€“] [email protected] 13 points 1 year ago (1 children)

That's capitalism's end goal, though, is slavery. Really it's just feudalism with extra steps.

[โ€“] [email protected] 7 points 1 year ago

Wait! @[email protected] isn't wrong. Also, I think we are miscommunicating with pro-capitalists.

Granted, we both know capitalist propaganda labels basically everything positive about human interactions "capitalism" and then scaremongers about how "the left wants to take THIS away from you!" And that is the main source of our problems communicating with pro-capitalists.

But some responsibility (maybe 20% of the responsibility?) lies with the fact that we choose to label "capital" the problem instead of... you know... the fact that our laws and customs favor a zero-sum employment contract between capital owners and workers where there can be only one winner?

Of course the owner of more capital is always on the better side of this contract, (which is why we identified capital as the problem in the first place.) But labeling the problem "capital" makes it look like we don't see any value to capital. Which isn't true. Marx and Engels dedicated several paragraphs of their manifesto to explaining why the means of production should not be damaged, because the existence of capital leads to abundance, and the means of production is valuable. They didn't want the means destroyed: they simply wanted it democratically owned by workers' cooperatives and state socialism.

The problem is employment contracts that are part of how our society treats the individual, private ownership of capital. Not the idea that capital is a valuable contribution to the production process and deserves reward.