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View Diary: I'm Spending The Biggest Shopping Day of The Year at Walmart! (96 comments)

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  •  I have to disagree in that (1+ / 0-)
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    as at least from the traditional intention capitalism meant something very specific. Moreover I honestly would disagree in general too as words always mean something particular even in a case such as this with corporations having lost sight of what 'capitalism' is supposed to mean.

    That said at the end of the day this to me isn't about what the corporations want it to mean but about the intent behind capitalism and recognizing that the two are not even on the same planet in terms of meaning. Perhaps the 'battle' for the word is over and done with. I certainly won't pretend that 'capitalism' today tends to mean something it was never supposed to mean. But I think that by reminding people of what Smith meant that at the very least it can be shown that no matter what wal mart claims to be practicing it's not actually capitalism (rose by any other name and all that)

    •  we diverge at "traditional intention" (6+ / 0-)
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      angry marmot, caul, tardis10, AoT, JesseCW, duhban

      I don't think there is a unitary "traditional intention." I doubt that really existing capitalism is, or ever was, exactly what any actor intended it to be. Adam Smith didn't design it on a blackboard; it wasn't enacted during a citizens' convention; its properties aren't required to conform to any theoretical conception or empirical description, nor are they frozen across time and space.

      If someone finds it helpful to think in terms of a "true capitalism" or "original capitalism" that is sharply different from Wal-Mart's version, I suppose that is OK -- but many of us never will think in those terms.

      "I am not sure how we got here, but then, I am not really sure where we are." -Susan from 29

      by HudsonValleyMark on Thu Nov 21, 2013 at 05:55:00 AM PST

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    •  So what does capitalism mean? n/t (1+ / 0-)
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      •  I would suggest you read Smith (0+ / 0-)

        as answering that question would easily be at least a diary if not longer.

        Der Weg ist das Ziel

        by duhban on Thu Nov 21, 2013 at 03:30:27 PM PST

        [ Parent ]

        •  I've read Smith (0+ / 0-)

          He doesn't actually use the term capitalism so I guess it would be hard for him to have defined it. He talks about market forces and what the best way to harness those forces are. But, similar to Marx, he talks about these things as natural laws, not as an imposed economic system.

          Have you read Smith?

    •  Capitalism is a system in which a small group (0+ / 0-)

      holds title to the means of production and leverages said title to compel the labor of the many.

      Marx and Smith are in agreement on this.  You should read both of them.

      "I read New republic and Nation/I've learned to take every view.." P. Ochs

      by JesseCW on Thu Nov 21, 2013 at 01:57:17 PM PST

      [ Parent ]

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