Private property works like circuitry in electronics, or piping in hydraulics. It conveys wages to the owners of labor power, as well as the various forms of nonwage property income to the owners of capital. In itself, it is no more responsible for maldistribution of purchasing power than the science of bookkeeping is responsible for bankruptcy.
Capitalism designates an economic system significantly characterized by the predominance of " capital. " Capitalism and double entry bookkeeping are absolutely indissociable; their relationship to each other is that of form to content.
You have to know accounting. It's the language of practical business life. It was a very useful thing to deliver to civilization. I've heard it came to civilization through Venice which of course was once the great commercial power in the Mediterranean. However, double entry bookkeeping was a hell of an invention.
I get so tired of moral bookkeeping.
Be the Mick Jagger of the mailroom, the Warren Buffet of bookkeeping and the Bono of stapler selling.
Markets are as old as the crossroads. But capitalism, as we know it, is only a few hundred years old, enabled by cooperative arrangements and technologies, such as the joint-stock ownership company, shared liability insurance, double-entry bookkeeping.
