05/24/2018 Per Bylund

The term capitalism is highly confusing. The definition is clear enough: the private ownership of the means of production (capital). But the implications are very different depending on one’s political or economic perspective. Both are right and wrong. Let’s take a look at them.

Politically speaking, private ownership of the means of production provides owners with power. Why?

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https://mises.org/wire/there-difference-between-economic-power-and-political-power