Do you take capitalism as being where all values are considered as fungible capital, or where the goal is the pursuit of maximum capital? I was taking the second, but IMO the first is idiocy and the second is greed, and in ‘capitalism’ form I think both are refined versions of what humanity’s had for a long time.
I can understand Adam Smith imagining a bounded degree of this, with a change to a different system/ideology later. And experience shows it can kind of work, and facilitate a lot of development and growth. But I stand by a basic caricature that capitalism is scientifically refined greed.
Do you take capitalism as being where all values are considered as fungible capital, or where the goal is the pursuit of maximum capital? I was taking the second, but IMO the first is idiocy and the second is greed, and in ‘capitalism’ form I think both are refined versions of what humanity’s had for a long time.
I can understand Adam Smith imagining a bounded degree of this, with a change to a different system/ideology later. And experience shows it can kind of work, and facilitate a lot of development and growth. But I stand by a basic caricature that capitalism is scientifically refined greed.