What is Capitalism?

enjoy_capitalismCapitalism is an inherently expanding social order in which the goals and powers of profit-seeking, wages-for-worktime-paying private investors are the most important force shaping society.

Capitalists hate free markets, which force them to pass along technological advances in the form of lower prices.  To protect themselves from that, in the late 1800s, leading capitalists lobbied state legislatures in the USA to win the right to form the giant conglomerate corporations that have since been the major units of the system.  Thomas Edison explained this to The New York Times in February 1892, when he was merging Edison Electric with rival Thomson-Houston Electric to form General Electric.

Capitalism presumes that Earth can sustain endless economic expansion and whatever level of resource consumption that may require.

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