Stephen Yearwood
1 min readDec 19, 2023

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First, thanks for an informative article.

To my mind, capitalism is best thought of as a mode of production, not an an economic system, much less an ideology. The best definition for it, I think, is 'mass production for sales in geographically expanded markets'. Based on that definition, it goes back to the days of the (original) Silk Road. In Modern capitalism pay(/benefits) replaced bondage slavery as the means of obtaining labor for mass production.

There are problems associated with the existing economy, which is dominated by capitalism, that have to be addressed, to include poverty, sustainability, and taxation/public debt. My studies have taught me that the economic system--specifically, the way money is supplied to the economy--can be utilized differently to actually solve all of those problems, and more--without bothering about that loaded term, 'capitalism'.

if curious: "Economic System Not the Problem" (here in Medium, but not behind the paywall)

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Stephen Yearwood
Stephen Yearwood

Written by Stephen Yearwood

M.A. in political economy (money/distributive justice) "Please don't confront me with my failures/ I'm aware of them" from "These Days," as sung by Gregg Allman

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