Talk:capitalism

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VAGUENESS - UNREGULATED BY WHOM ?Edit

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. --41.118.217.59 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 ?Edit

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?

DefinitionEdit

Nr. Definition Note
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,[1][2] are operated for profit,[3] 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)

Last modified on 2 February 2014, at 08:31