this post was submitted on 14 Oct 2023
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You just described the free market, not capitalism.
My definition is almost word to word the same that merriam webster gives. You can go have a look yourself.
What are you talking about? Capitalism is inherently reliant on free markets. Otherwise what you have is a planned economy. You know, the opposite of capitalism?
Capitalism is reliant on a free market. That does not make it the same nor does that mean that a free market is reliant on capitalism. The concept described above is a free market, not capitalism.