• J Lou@mastodon.socialOP
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          8 months ago

          Capitalism’s defining institutions are

          1. The employer-employee contract
          2. Private ownership of the means of production
          3. Private property in land

          The alternative to capitalism I propose, Georgist economic democracy, abolishes 1 and 3. 2 continues formally but there is widespread collective ownership of the means of production. Markets continue to exist to help coordinate production and allocate resources. Many defenders of capitalism incorrectly conflate capitalism with markets @general