the.com/capitalism
The only system where you can get rich explaining why everyone else deserves less.
means An economic system where property and businesses are privately owned and run for profit, with prices and wages largely set by competition in markets rather than by the state.
from Built from the Latin 'caput' (head), which gave rise to 'capital' — originally the 'head' of one's wealth, as in livestock counted by head, the principal sum of a loan. 'Capitalist' appeared first, describing an owner of capital; 'capitalism' as the name for the whole system came later, popularized in the 19th century above all by its critics, including socialist writers, who needed a word for the thing they opposed before its defenders settled comfortably into using it too.
- origin
- Term popularized by critics, not its founders
- core engine
- Profit motive scales both cures and casinos
- adam smith
- Also wrote a book on moral sentiment, ignored
- paradox
- Rewards competition, trends toward monopoly anyway