June 3, 2024
Owners and Capitalists
In general, in pre-capitalist societies, wealth was primarily land rent: the owner received a more or less significant part of what was produced by the peasant and invested it in luxury goods (villas, furniture, carriages, etc.). The capitalist, on the other hand, creates industries with money that produce goods for everyone. Hence the great difference in the conception of money in agricultural versus industrial societies. The real sign of the current world's crisis is that interest rates have even become negative, which means that an enormous amount of money (i.e., resources) remains unused.