Capitalism, like many philosophies, is a response to a previous system eg Marx was responding to Smith’s works, Mussolini was responding to Marxists etc. Capitalism’s notion that the ideal involvement of the state in private enterprise should be limited was not a commonly held view until the later 1700s.
Mercantilism was the popular system of the time and it featured a lot of direct involvement from the crown.
That’s just a more complicated way of you stating you do not understand what imperialism is as that is absolutely not just a capitalist thing eg The USSR.
The UK in 1706. It predates capitalism and the economy tanked by ~15% as the result if war with France.
Yes they moved the goalposts and they still managed to be wrong.
Well, fancy that.
Anywho… for a second there I thought your instance was @redhat.com
Still not wrong. And this isn’t Linux
No 100% wrong and so wrong your source backs it up.
Yeah, no. It was coined in 1929, under capitalism. I was right. Before they were called financial disasters or slumps.
Which mean the same thing. You cannot be this dense.
It’s semantics, but you challenged my comment. I did the research and proved you wrong. Recessions didn’t occur until 1929. Google it.
How does something predate capitalism? I feel like capitalism happened as soon as one ape had something another didn’t.
Capitalism, like many philosophies, is a response to a previous system eg Marx was responding to Smith’s works, Mussolini was responding to Marxists etc. Capitalism’s notion that the ideal involvement of the state in private enterprise should be limited was not a commonly held view until the later 1700s.
Mercantilism was the popular system of the time and it featured a lot of direct involvement from the crown.
Since late stage capitalism is imperialism 3.0, I wonder if it still counts. 🤔
That’s just a more complicated way of you stating you do not understand what imperialism is as that is absolutely not just a capitalist thing eg The USSR.
I meant currently, today, not historically.
Talk about moving goalposts. Mixed economies include capitalist markets.
That wasn’t a “recession,” they called it an Economic Slump. Source:.
Your source describes it as a depression which is an extended recession. No system always grows.
Don’t move the goalposts. My comment said “recessions.”