Capitalism

“The best known system to increase material wealth”

Capitalism is a hybrid economic and political system, based on three axioms:

  1. Price defines value.
  2. Ownership entitles to value.
  3. Market redistributes ownership.

On a long term, from these axioms we can derive goals of capitalism:

  1. Convert everything into property.
  2. Put a price tag on every property to make it wealth.
  3. Through market and inheritance system, concentrate wealth to the greatest extent possible.

In popular thinking, critique of capitalism is based on a statement that “capitalism and markets are not really efficient in redistribution of wealth”. People who believe so are victims of capitalist propaganda, claiming that “we are all in it together” and capitalism is striving to provide wealth for everyone. Only, they believe, capitalism is not as effective as it should be — so it should be improved and perhaps transcended (not necessarily replaced, thus “post-capitalism”).
This is plain and simple lie. Capitalism is extremely effective in respect of its obvious goal: concentration of wealth (thus power) under control of shrinking number of owners.

See example of concentration of wealth among the richest: https://inequality.org/facts/wealth-inequality/

Wikipedia on capitalism: https://en.wikipedia.org/wiki/Capitalism

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