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Political Terminology
Political Terminology…or words we often hear “Capitalism”, if you really want to think straight, is not properly opposed to “Communism”. The economic system properly opposed to capitalism, is individual enterprise. The term, “capitalism” obviously derives from the word “capital”, which in this context means some form of wealth, often tools, equipment, or facilities used in […]
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Betty and Her Basket
Or, Capitalism and the Corporation I begin with a definition for capitalism based on the structure of the word. “Capital” in economics means productive assets or tools. A gatherer of fallen fruit needs no capital to start her business…until she decides she needs a basket. That basket is, for her enterprise, “capital equipment”. But Betty […]