Sean

“Nonetheless, Braudel’s definitional opposition of capitalism and market economy is misleading. Even in the early modern era, and even in its “upper echelon,” the kind of capitalism taking shape was characterized by a great deal of competition, profit and loss, rise and fall, opportunity and risk. It was rooted in the market economy and, as a rule, contributed not to the elimination of markets but to their becoming more universal. Essentially, this remains true to this day.”
― Jürgen Kocka, Capitalism: A Short History