One thing that irritates me is the tendency of many on the right to conflate capitalism and markets.
They are, in fact, two different things: capitalism is a system of ownership; markets a method of exchange. Although the two have sometimes gone together, this need not be so. Crony capitalism in which a few monopolies or cartels run much of the economy gives us capitalism without markets. And market socialism would give us markets without capitalism*.…Stumbling and Mumbling
Capitalism vs markets
Chris Dillow | Investors Chronicle
1 comment:
I downloaded the free pdf, it's a whole book. I've got loads of books on my kindle lined up now for reading. I just need to get stranded on island for a few years to read them all.
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