“Capitalism” or even “late-stage capitalism” is currently a pure negative connotation terms among the progressives in the West, with no denotation left. Your definition is also non-central, compared to the original and more standard “Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.” This, incidentally, includes social democracy.
“Capitalism” or even “late-stage capitalism” is currently a pure negative connotation terms among the progressives in the West, with no denotation left. Your definition is also non-central, compared to the original and more standard “Capitalism is an economic system based on the private ownership of the means of production and their operation for profit.” This, incidentally, includes social democracy.