Markets vs. Capitalism

…we’re used to assuming that capitalĀ­ ism and markets are the same thing, but, as the great French historian Fernand Braudel pointed out, in many ways they could equally well be conceived as opposites. While markets are ways of exchanging goods through the medium of money-historically, ways for those with a surplus of grain to acquire candles and vice versa (in economic shorthand, C-M-C’, for commodity-money-other commodity)-capitalism is first and foremost the art of using money to get more money (M-C-M’).

David Graeber, Debt : the first 5,000 years, p. 260

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