this post was submitted on 28 Feb 2024
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Capitalism isn't wage labor, it's a specific mode of production by which individual Capitalists buy and sell Capital, then pay Workers wage labor to use said Capital to create commodities.
If the entity is Worker Owned, it's Socialist, as Capitalism requires Capitalists.
In other words, worker is getting paid for creating goods/services for entity owner(capitalist in our case)?
If the entity owner is the body of Workers collectively, it's Socialist.
Yeah, but my previous take was about capitalism, so did I understand it right?