VAGUENESS - UNREGULATED BY WHOM ?
I believe that yes we have been capitalist since before the Babylonians, but am not going to get into a debate of how much state control we can have without being called communist. (I believe the state has always had some degree of control - ancient and medieval monarchies included). However the current definition (02 May 2012 22:00) doesnt even mention that a capitalist system is unregulated by THE STATE ! It say: "a socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of an unregulated market." UNREGULATED BY WHOM ? The implication is by the state, but definitions are not supposed to have vague implications, but rather facts. Therefore although I disagree with this definition the isue of state regulation, I am at least going to change it to reflect "an unregulated market" which is unregulated by THE STATE. Some advice - what does an old Oxford dictionary say about the definition of capitalism. Surely we cant argue about that ! Please dont remove my minor edit that will add the word state or government. --126.96.36.199 20:21, 2 May 2012 (UTC)
I have added a new definition as the previous entry, i.e.:- "A social and economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made through the largely through the operation of a free market rather than by state control. The practical implementation of capitalism within political systems varies between complete (laissez-faire) free markets and mixed-economy state-capitalism or welfare states." is obviously no good. According to this definition we have been capitalist since before the Babylonians! Whatever happened to the Classical & Fuedal eras? I believe a definition forged from the theories of Smith, Marx, Keynes, Friedman etc to be more correct. Kim Giles 7/7/05
Re> capitalism system is by definition not state controlled ?
I am writing this in answer to a previous editor who commented "capitalism system is by definition not state controlled". My first comment is "By whose definition?". Perhaps the Wiktionarys? Do you see the implications? We are writing a definition, hence 'by definition' means nothing. Secondly, why can't capitalism be state controlled? All modern states that I can think of have a measure of state-control, does that mean that none of them are capitalist?
|1||A socio-economic system based on private property rights, including the private ownership of resources or capital, with economic decisions made largely through the operation of a free market rather than by state control.||Currently number 1 in the article.|
|2||A socio-economic system based on the abstraction of resources into the form of capital, whether privately or state owned and regulated.||Currently number 2 in the article.|
|3||An economic and social system in which the means of production are predominantly privately owned, are operated for profit, and in which investments, distribution, income, production and pricing of goods and services are determined through the operation of a market economy.||From W:Capitalism, having two references.|I prefer the number 3, although I also like the mention of free market as opposed to state control. Oops, the definition from WP is longer than I noticed. It seems clearly better to me than the current Wiktionary ones and is sourced. --Daniel Polansky 16:59, 2 April 2008 (UTC)