The Saker:ㅤFinancialization and its Discontents


23-09-22 04:06:00,

by Francis Lee for the Saker blog

As the textbooks would have define it Capitalism should be understood as being essentially a dynamic force, constantly growing and mutating, and it takes no prisoners moreover. It is a social system in which individuals are free to own the means of production, property, and maximize profits and which resource allocation is determined by the price system. Well, that’s the theory in its pristine form going all the way back to John Locke (1632-1704). However, in the fullness of time the system changed and adapted to the requirements of its new environment.

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