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submitted 3 weeks ago by direwolf@lemmy.ml to c/usa@lemmy.ml
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[-] Cowbee@lemmy.ml 2 points 3 weeks ago

That's too broad for both, even if people occasionally follow your usage. Feudalism was not Capitalism, but definitely had resources in few hands. In fact, Capitalism extended the number of wealthy individuals over feudalism. Traditionally, Socialism and Capitalism are seen as modes of production, the former based on public ownership as the principle aspect of the economy (such as in Cuba, the PRC, former USSR, etc) while the latter is based on Private ownership as the principle aspect (such as in the US, Norway, or Argentina).

this post was submitted on 26 May 2025
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