Re:Sergey Brin: The Facebook phenomenon is a problem (2007)
by gojomo on Wednesday March 30, 2022 @03:26PM
(#30859736)
That's only the 'basic concept of capitalism' at a reductionist Fischer-Price level-of-understanding by its detractors. That's just as impoverished a model of the real world, in its own way, as simple microeconomics analyses of 'perfect competition'.
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Re:Sergey Brin: The Facebook phenomenon is a problem (2007)
by TaylorAlexander on Wednesday March 30, 2022 @08:59PM
(#30862677)
> a reductionist Fischer-Price level-of-understanding
By the way I got this from Richard Wolff. Here is his education history:
B.A. History magna cum laude Harvard 1963
M.A. Economics Stanford 1964
M.A. Economics Yale 1966
M.A. History Yale 1967
Ph.D. Economics Yale 1969
Re:Sergey Brin: The Facebook phenomenon is a problem (2007)
by gojomo on Friday April 01, 2022 @04:13PM
(#30882809)
Ideology can make even the highly-credentialed pretty dumb.
But did Mr. Wolff really say – "The basic concept of capitalism is that there are capital owners, and they hire workers who use that capital to generate value. The capital owners receive all of that value and then pay the workers for their time." – ? Where?
Re:Sergey Brin: The Facebook phenomenon is a problem (2007)
by TaylorAlexander on Wednesday March 30, 2022 @06:04PM
(#30861386)
I disagree. The description I used is helpful in distinguishing capitalism from previous modes of production like feudalism or alternatives like communism. I explicitly said the description is not comprehensive, but it is one aspect of capitalism.