Capitalism

The economic system organised around private ownership of capital, wage labour, and the coordination of production by market prices rather than central plan. Its defenders point to the staggering material gains since the Industrial Revolution, the informational role of price signals, and the way competition and the profit motive route effort toward what people actually want. Its critics point to inequality, alienation, environmental damage, the commodification of things that resist commodification, and a tendency to hollow out community and meaning even where it succeeds at making everyone richer. Much serious literature ends up wrestling with one or another of these critiques — The Dispossessed dramatises the whole argument by setting a capitalist planet against an anarcho-syndicalist one.

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