this post was submitted on 20 Jul 2023
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Capitalism is misnamed. Marx's analysis that capital has a special theoretical role in the system is wrong. Accepting the pie metaphor means falling for the capitalist framing. Capitalism is a property system, so criticize it in property theoretic terms. The problem with the system becomes clear as the capitalist legally owns 100% of the positive and negative product of the firm and employees own 0% of the product. Whole analysis doesn't fit in a toot, so link: https://www.ellerman.org/rethinking-common-vs-private-property/