LightDefine #capitalism and explain your thoughts on it from an ethical perspective.
J Lou@light #Capitalism is an actually existing system characterized by a certain set of property relations between the employer and labor. These property relations violate the principle behind private property of getting the positive and negative fruits of one’s labor. Capitalism must be abolished in favor of economic #democracy, a system where all firms are structured as democratic worker #cooperatives.
https://www.pbs.org/newshour/economy/column-the-case-for-employee-owned-companies
@jlou
> #Capitalism is an actually existing system characterized by a certain set of property relations between the employer and labor.
Please elaborate.
> #Capitalism is an actually existing system characterized by a certain set of property relations between the employer and labor.
Please elaborate.
@light the property relations are basically the employer gets 100% property rights and liabilities to the positive and negative results of production (whole product) while workers as employees get 0%. This violates the moral principle that people have an inalienable right to appropriate the positive and negative fruits of their labor.
homo hortus@jlou @light Capitalism is the capitalist mode of production, formed around the idea of the sacralization of private property (liberalism) and the appropriation of the means of production (following primitive bourgeois accumulation, slavery, liberal colonization and industrialization) by capitalist exploiters, who extract the value created by the productive force. Capitalism is theft, and this capitalism was born with liberalism.