Rethinking Progress in a Time of Crisis 

Our DMNC model also distinguishes ‘market economy’ and ‘capitalist economy’…

Contrary to popular myth, a capitalist economy is not the same as a market economy. In fact, they are almost diametric opposites. A capitalist economy by design concentrates control of the means of production in the hands of the few to the exclusion of the many, which is exactly what our present economy does. It has of course won out over communism. What is less often noted is that it has also won out over democracy and a market economy. The capitalist economy features monopoly, financial speculation, absentee ownership, deregulation, public subsidies, and central economic planning by megacorporations. A market economy, in contrast, is organized by people engaging in the production and exchange of goods and services as a means of livelihood. A market economy features human-scale enterprises, honest money, rooted local ownership, and a framework of democratically chosen rules.

Source: Rethinking Progress in a Time of Crisis – CounterPunch.org

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s