>>2509379Yea, but my point was that the most important trait of the system is the ability to essentially play job market and product market arbitrage, whether that happens at a global or regional scale. Capitalists do this not simply because they own it, but because the trade law and labor law in their countries allow it. What we have then, "capitalism", is just a special case for conditions that allowed capital owners to do arbitrage.
We could also get into the power of rent, interest, and other financial points, but I think even these things are secondary to my point about arbitrage.
After all, prior to capitalism, we already had many of these financial instruments. Some people argue that the joint-stock company revolutionized finance, but I would argue that the logistics (and thus, potential for arbitrage) of the Age of Sail were really what made capitalism possible.