Capitalistic thinking is not about domination by capital; it refers to financial thinking. The economy revolves around exchange. The performance of the counterparty corresponding to what I want to exchange is called ‘consideration,’ and a ‘transaction’ is the accumulation of added value by exchanging equal considerations. However, among transactions, this consideration is not relative but absolute; trading solely in one fiat currency as consideration is termed 'finance.’ When I obtain a loan, the bank lends me fiat currency (the bank’s consideration), but my obligation is to return the fiat principal plus the contracted interest. The consideration in this transaction is unidirectional, involving only one fiat currency. In contrast, when I buy shoes, the seller has an obligation to hand over the shoes to me, and I have a counterpart obligation to pay in fiat currency. Once these two considerations are exchanged, an industrial transaction occurs. However, as noted earlier, in financi...
Rice has been the staple crop of the East, while wheat has been the staple of the West. Rice requires more water to produce than wheat. Rice farmers had to contend with the availability of water, which favored collective farming. Wheat could be grown with less labor than rice. Rice farmers lived collectively, while wheat farmers lived individually. Collective agriculture led to the development of societies that were governed by village rules. On the other hand, individual agriculture led to cultures that valued personal freedom and respect for individuality over communal rules. Patterns of agriculture have indisputably influenced social structure and culture. - Joseph’s “just my thoughts”