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The myth of black capitalism (lemmy.ml)

submitted 1 month ago by [email protected] to c/[email protected]

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[–] C126 -3 points 1 month ago (1 children)

Actually, I think it's a system which uses a medium of exchange to facilitate trade, e.g. capital. As opposed to a barter system. You can have a capitalist system without a free market. I think you could even have a communist system which uses capital to assign value, technically.

[–] [email protected] 7 points 1 month ago

Not quite.

Capitalism is a form of commodity production of competing Capital Owners that pay wage laborers to sell commodities on a market, seeking further and further accmulation.

Capitalism tends to monopolize into syndicates and eliminate its own competition. This doesn't mean it isn't still Capitalism, just that it's becoming Imperialism, ie moribund Capitalism, and that it is becoming ripe for central planning and public siezure. Capitalism develops towards Socialism, once the proletariat siezes control.