ive always thought markets and capitalism were the same thing and markets were inherent to capitalism, but now im reading things that say they're not? Is this accurate? What's the difference? Can markets exist without capitalism, and vice versa?
ive always thought markets and capitalism were the same thing and markets were inherent to capitalism, but now im reading things that say they're not? Is this accurate? What's the difference? Can markets exist without capitalism, and vice versa?
Markets are a social technology for exchange, be it personal and on the basis of inherent credit between community members or impersonal and operated with currency.
The Market as it is referred to by capitalists is a quasi-religious concept, something that is entirely enacted by humans but maintains some sort of abstract mechanism of operation via belief. The Market is self reproducing as a social system of belief that capitalist economics is roughly equivalent to a moral "best case" and that if you're suffering you are individually responsible. Etc., etc., etc.