in my experience, most of the people who defend capitalism as an economic system have no idea what capitalism is, what economics is, or how to communicate the basic vocabulary of business management/accounting. the conflation of "revenue" and "profit" is one of the most common themes.
this is extremely annoying as someone who diligently took those classes and even fringe topics like non profit managerial economics, all taught under the ideology of economic liberalism, only to later study marx out of curiosity.
nothing drives home the ideological nature of economic liberalism quite like the realization that most of its defenders cannot articulate what it is, but "know" deep down that it is absolutely correct, has no contradictions or alternatives.
Most liberals think capitalism is when there's free markets and competition and consumers are all rational people making savvy choices. None of this is unique to capitalism though, that's just regular markets. Because in their concept of capitalism, actual capitalists and capital are abstracted to anything from a CEO to an actor to pretty much any rich person
in my experience, most of the people who defend capitalism as an economic system have no idea what capitalism is, what economics is, or how to communicate the basic vocabulary of business management/accounting. the conflation of "revenue" and "profit" is one of the most common themes.
this is extremely annoying as someone who diligently took those classes and even fringe topics like non profit managerial economics, all taught under the ideology of economic liberalism, only to later study marx out of curiosity.
nothing drives home the ideological nature of economic liberalism quite like the realization that most of its defenders cannot articulate what it is, but "know" deep down that it is absolutely correct, has no contradictions or alternatives.
Most liberals think capitalism is when there's free markets and competition and consumers are all rational people making savvy choices. None of this is unique to capitalism though, that's just regular markets. Because in their concept of capitalism, actual capitalists and capital are abstracted to anything from a CEO to an actor to pretty much any rich person