2/15/25

 

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Via digitalism, are USA President Donald Trump & his digital musketeer Elon Musk facilitating to bury capitalism [= an upper layer above the market economy (*)] with the “USA coffin" to the graveyard of history, inadvertently or bluntly?

Let’s have a discussion...

Please first read Digitalism vs. Capitalism by Veysel Batmaz... But before you read, you have definitely and kindly to order it if you are interested. https://www.amazon.com/dp/B0D9SJ3XSL

(*) Fernand Braudel explains that the 15th to 18th centuries offer very important theoretical insights to understand how and why capitalism is born in Europe. One of his main conclusions is that contrary to the common view that “capitalism” is synonymous with “free market economy," Braudel argues that these are not only different but also constitute two opposite poles. Capitalism emerged out of the market economy [via technology] but consolidated at the expense of it by bending the rules of the market. Market economy is the sphere of routine economic life. It is where exchange takes place with modest profits. Markets at every level are the vessels of economic life; they seize society from down to the top. Capitalism, on the other hand, is at the top of the pyramid. It is the sphere of “super” profits. It deals with the aggregates [accumulation] at the top. It has the power, flexibility, and superior access to information. Even though capitalists constituted only a minority of society, they accumulated huge wealth and soon began to control the rest of the society at the top of the social hierarchy. Where capitalism got stronger, the societies began to be transformed in the direction of the needs of capitalism. So, capitalist class and capitalism had an influence much larger than their absolute size and thus played a role of a “lever” for the transformation of the whole society.” (N. Tolga TUNCER, ESKİŞEHİR OSMANGAZİ ÜNİVERSİTESİ İİBF DERGİSİ, 2011, 6(2), 55‐69)

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