Quote from: kerafym on June 02, 2014, 02:34:25 PM

Quote from: MysticalPotato on June 02, 2014, 01:13:32 PM

Quote from: neofelis on June 01, 2014, 04:48:08 PM

When the US was formed, capitalism flourished briefly.

The economy of the colonies flourished because of the support of merchant princes. These new breed of economic barons became wealthy as a result of the Industrial Revolution. The revolution, in turn, was financed by the taxes generated from the Jamaican sugar industry. Post independence, the American socioeconomic model is extremely socialist - especially for entrepreneurs.

Capitalism, as we know it today, only emerged in the mid-19th century when more businesses began to emerge independent of the arms of the aristocracy and its proxies. However, its incredible success was achieved on the back of low-to-zero labor cost of slave laborers and an enormous amount of natural resources and land.

The issue is a complex one.

So, American success has nothing to do with capitalism?

That's right. American capitalism has always been a smokescreen for oligarchy. The term capitalism refers to the financial affairs of state, not how your community operates.