Capitalism has two defining characteristics throughout all its historical transformations: (1) profits are the fuel that drives it and get reinvested as new capital, and (2) markets are created through commodification of land and labor, creating the labor market following enclosures

definitionpending

Speaker

Yanis Varoufakis

Evidence Quote

capitalism retained two main characteristics first the fuel that drives it is profit...the second characteristic of capitalism is markets [7:17]

Source

Can we Fix Capitalism? Yanis Varoufakis vs Gillian TettIntelligence Squared
Created: 8/12/2026, 10:33:04 PM

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