Private ownership of the means of production
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Private ownership of the means of production, is a characteristic that distinguishes capitalism from socialism.
According to Stephan Kinsella, by itself, "POOTMOP" is not enough to constitute capitalism, however: "If society adopted some kind of bizarre model with no firms, no division and specialization of labor, no significant accumulation of capital, I guess I would not call it capitalist."[1]
References
- ↑ Roman Pearah. Distinguished Capitalists, October 30, 2011.
