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Current Events » in reply to Not an Economics major either

re: Not an Economics major either

The history of true capitalism is a relatively short one. If you actually look at history, most of the rulers and holders of power were heriditary chiefs and kings of one form or another, with the merchant class a considerable distance down the ladder. "Old money" versus "new money" is still a factor in some societies.

The idea that wealth should be earned and not simply expropriated because your father was the Earl of Fartsniff is, as a formal philosophy, historically recent.

It was against the society of Czarist Russia that Marxism was born, and whatever else you can say about that society, it wasn't capitalist. Marx wouldn't have known an entrepreneur if one had tried to sell him hot dogs on the street.

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