this post was submitted on 06 Sep 2023
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[–] [email protected] 3 points 1 year ago (1 children)

TIL that during the 16th to 19th centuries the aristocrats benefited from a "gift economy" because no one who ever says this knows what Mercantilism was.

[–] [email protected] 1 points 1 year ago (1 children)

Where did I mention the 16th or 19th centuries? And mercantilism was 100% not a barter economy. It was a form of market economy controlled by the state.... so I'm pretty sure it's you who misunderstands what mercantilism is.

[–] [email protected] 0 points 1 year ago (1 children)

Mercantilism was purely extractive, and thus completely immoral, I agree. However, trade does predate capitalism because capitalism was not a nominal economic system at the time and mercantilist countries traded with one another.

[–] [email protected] 0 points 1 year ago

Trade is not barter. And if it involved coinage or it isn't barter. It's a form of market economy.

Market Economy ≠ Barter