• gowan@reddthat.com
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      1 year ago

      The UK in 1706. It predates capitalism and the economy tanked by ~15% as the result if war with France.

      Yes they moved the goalposts and they still managed to be wrong.

      • 3laws@lemmy.world
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        1 year ago

        Yes they moved the goalposts and they still managed to be wrong

        Well, fancy that.

        Anywho… for a second there I thought your instance was @redhat.com

      • SheeEttin@lemmy.world
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        1 year ago

        How does something predate capitalism? I feel like capitalism happened as soon as one ape had something another didn’t.

        • gowan@reddthat.com
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          1 year ago

          Capitalism, like many philosophies, is a response to a previous system eg Marx was responding to Smith’s works, Mussolini was responding to Marxists etc. Capitalism’s notion that the ideal involvement of the state in private enterprise should be limited was not a commonly held view until the later 1700s.

          Mercantilism was the popular system of the time and it featured a lot of direct involvement from the crown.

      • 3laws@lemmy.world
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        1 year ago

        Since late stage capitalism is imperialism 3.0, I wonder if it still counts. 🤔

        • gowan@reddthat.com
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          1 year ago

          That’s just a more complicated way of you stating you do not understand what imperialism is as that is absolutely not just a capitalist thing eg The USSR.

      • TokenBoomer@lemmy.world
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        1 year ago

        I meant currently, today, not historically.

        predates capitalism

        Talk about moving goalposts. Mixed economies include capitalist markets.