What is Capitalism in the Light of History?

N. S. B. Gras

Business History Review, 1947, vol. 21, issue 4, 79-120

Abstract: Do we know what capitalism means? Are we annoyed by what seems a change in the use of the term? How about some other words of high import, such as democracy, labor, people, religion, communism, fascism? How can we be scholars, journalists, politicians, or even intelligent voters without having a clear concept of these terms? Or is it just a matter of pedantry that I am insisting on? Perhaps the extreme points of view are expressed by the words “scholarship” and “propaganda.” The propagandist certainly wants no limitations put upon his strategic use of terms. He is a master in intellectual crookedness and is irked by any effort that cramps his style.

Date: 1947
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