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It's a simple world view
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this post was submitted on 11 Dec 2023
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So what’s the difference between capitalism and markets? I would have thought the freer the market the more capitalistic it was, not so much that there’s a separation of the two.
Ownership of Capital. Capitalism has markets, but not all market systems are Capitalist.
Market Socialism, for example, has competing worker-owned entities like Co-operatives in a market system, with no Capitalists.
Capitalism is a relatively new phenomena in the grand scheme of things.
Can a cooperative compete in a capitalist market? As in shouldn’t the better system win out in a free market?
Kind of. The market can have Capitalist entities and Socialist entities, but the market itself isn't Capitalist.
Not necessarily. Co-operatives are more difficult to start in a predominantly Capitalist system, and Capitalist entities usually can exploit their workers more in order to gain temporary competitive advantage. I don't believe this is sufficient reasoning to value Capitalism over Socialist entities.
I'm not a Market Socialist, for clarification, as I do think there are issues. However, Capitalism isn't markets.