📢 selling goods and services is not capitalism (ho-fung hung is a Marxist sociologist)


@alex so buying something with the intent to resell it for more than you paid for would be capitalism then?

@sexybenfranklin the cycle of selling something for more than the value of the work and materials put into it, and then using that profit to produce more of the thing and sell more of the thing, reducing production costs but not reducing prices—that reinvestment and cost cutting and growth cycle is capitalism, especially once it reaches the point where you’re using the profit to pay someone to do the labor for you

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The second rule of smores town is: HAVE A NICE DAY.