Capitalism is normally associated with a market economy, as if that’s all that it is. But markets and trade are very old practices which existed in primitive communities, in slave, and in feudal societies. So what differentiates the capitalist market economy from these others? It is the existence of people who do not own land, and are neither slaves, nor serfs, nor vagabonds who are compelled to work, as was the case in Europe after the Black Death, and a practice carried over to the American colonies.<\/p>\n
People who are neither slaves nor serfs are euphemistically called \u201cfree laborers.\u201d And if these \u201cfree laborers\u201d are not working and are homeless, \u00a0they are modern vagabonds.<\/p>\n