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How do you feel about financing a genocide?
(lemmy.ml)
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this post was submitted on 15 Oct 2023
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Well wikipedia also defines it based on free markets.
If you don’t think that’s a valid definition of capitalism you ought to argue your point over there.
You can mean whatever you want when you say capitalism. I use the definition where free markets are a characteristic.
There really was a major change in trade and fortune with the advent of capital investment at a particular point in history, beginning in northern Europe and especially in the investment markets of Amsterdam and London. This is what a lot of people mean by "capitalism", and if you want to understand the things they say, it will help you if you don't pretend they mean something else.
If I had to name one defining property of "capitalism", it would be that an investor can trade shares in a venture managed by someone else, without thereby taking on either management responsibility or financial liability for the downsides of that venture. This was the financial innovation that made Northern European colonialism possible, and it is maintained to the present day in the form of stock markets.
Capital-ism is about making capital (money from investors) available to ventures (businesses; startups; colonial voyages). It doesn't necessarily mean free speech or even free trade. It means freedom for capital, not necessarily for you.