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The Locust and the BeePredators and Creators in Capitalism's Future$
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Geoff Mulgan

Print publication date: 2015

Print ISBN-13: 9780691165745

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691165745.001.0001

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PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 26 September 2021

The Essence of Capitalism

The Essence of Capitalism

(p.28) Chapter 3 The Essence of Capitalism
The Locust and the Bee

Geoff Mulgan

Princeton University Press

This chapter discusses capitalism's origins, and how it has evolved. Capitalism has been defined in many ways, through its rules and laws, through the power it gives to investors and entrepreneurs, and through the flows of money, information, and goods that it supports. The chapter defines it as an idea—the relentless pursuit of exchangeable value—that had become a form of life. In this sense, it is starkly different from social systems that prioritize the conquest of territory, the saving of souls, or the brotherhood of man. But capitalism is a matter of degree. Societies can choose how capitalist they become, and how much they extend the capitalist idea into fields such as health or art.

Keywords:   capitalism, power, investors, entrepreneurs, money, information, goods, exchangeable value, social systems

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