The Origins of Capitalism as a Social System

Chapter 1 highlights the fundamental characteristics that, in their interconnectedness, distinguish capitalism from all other social systems: (i) wage labour, (ii) monetization of the whole economy (money-begetting money), (iii) concentration of the means of production and dissociation of the capitalist from the labour process as such, (iv) free competition and the fusion of individual capitals into aggregate-social capital, (v) the financial mode of existence of capital and (vi) the formation of a specific juridical–political–ideological structure and a corresponding state form.

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