Re:How the West Got China Wrong
by dragonwriter on Friday March 02, 2018 @10:01AM
(#16501872)
> Someone has to pay for the fixed costs. And its most common that an investor does that.
Yes, and, again, equity isn't the only form of investment even within the capitalist system (though, obviously, it's often structurally preferred by investors within that system.) So, even granting, for the sake of argument, the need for capital investment to start firms, that does not imply a need for capital, as opposed to labor, ownership of firms. (See, for a large example even embedded within a capitalist economy, the Mondragon Corporation.)
> Property rights are just an extension to help the underlying basics
That's certainly one of the reasons for formalizing such rights, but “property rights” aren't a special feature of capitalism, what defines capitalism—and this is generally true of each other politico-economic system—is a particular model of property rights. And, yes, in each case they are viewed by defenders of the system to “help” the immutable basic needs of human society.
Yes, and, again, equity isn't the only form of investment even within the capitalist system (though, obviously, it's often structurally preferred by investors within that system.) So, even granting, for the sake of argument, the need for capital investment to start firms, that does not imply a need for capital, as opposed to labor, ownership of firms. (See, for a large example even embedded within a capitalist economy, the Mondragon Corporation.)
> Property rights are just an extension to help the underlying basics
That's certainly one of the reasons for formalizing such rights, but “property rights” aren't a special feature of capitalism, what defines capitalism—and this is generally true of each other politico-economic system—is a particular model of property rights. And, yes, in each case they are viewed by defenders of the system to “help” the immutable basic needs of human society.