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 existed under feudalism and slave societies, and will exist under socialism. They are simply social mechanisms for exchange. The mode of production (capitalism etc) is defined how things are produced, not sold. Of course there is "primitive" communism and Communism itself which do not have markets as such, but without turning to small band hunter gatherer society or overthrowing capitalism and subsequently struggling within socialism to abolish the state and money, markets will be unavoidable for now.