sábado, 24 de setembro de 2022

Capitalism vs Socialism

 

Capitalism versus Socialism seems not to be a well-formed dichotomy. Perhaps better these days to say Market Based Economy versus Centrally Planned Economy as better descriptors of their substantive content.
Adam Smith saw the former as the system of natural liberty because he saw society as evolving naturally out of human sociability with economy a particular form of sociability founded on the emergent use of money for the measurement of value and account-keeping.

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