alt Hacker News> capitalism is everyone working to maximize profit
This is nonsense. Capitalism is about the private ownership of productive stuff, i.e. capital. That’s it. Profit is a corollary, and one that is bounded by preferences and tastes.
> capitalism is everyone working to maximize profit
This is nonsense. Capitalism is about the private ownership of productive stuff, i.e. capital. That’s it. Profit is a corollary, and one that is bounded by preferences and tastes.
That completely ignores the coercive law of competition.
"Accumulate! Accumulate! That is Moses and the prophets."
- Karl Marx, Capital: A Critique of Political Economy, Volume 1