Two cheers for capitalism
pro2rat at yahoo.com.au
Fri Aug 13 05:20:31 PDT 2021
Braudel argued that capitalists have typically been monopolists and not, as is usually assumed, entrepreneurs operating in competitive markets. He argued that capitalists did not specialize and did not use free markets, thus diverging from both liberal (Adam Smith) and Marxian interpretations.
In Braudel's view, the state in capitalist countries has served as a guarantor of monopolists rather than a protector of competition, as it is usually portrayed. He asserted that capitalists have had power and cunning on their side as they have arrayed themselves against the majority of the population
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