And, a recent tour of one of the Asian powerhouse’s vehicle plants has proved this beyond a shadow of a doubt, at least to Honda President and CEO Toshihiro Mibe.
“We have no chance against this,” Mibe said upon a visit to a Shanghai parts factory, commenting on its seamless automation across all levels of production. Logistics, procurement and all aspects of the process were so automated, in fact, that he did not spot a single human worker on the supplier’s floor.
Ford executives saying even three years ago that China was way ahead of the game
Toyota’s CEO has likewise said regarding not just his company, but the industry in general, “unless things change, we will not survive”
Wikipedia disagrees with you. Markets are just one component of capitalism.
The very first line is exactly my definition:
“Capitalism is an economic system based on the private ownership of the means of production and its use for the purpose of obtaining profit.“
https://en.wikipedia.org/wiki/Capitalism
Wikipedia fully agrees with me if you read the very next paragraph from your link you didn’t quote, emphasis mine:
Yes I understand markets are one component of capitalism, I also understand that without them we don’t have capitalism as like you’ve said that’s a constituent component necessary for it to be defined as capitalism.
What market is there for Facebook? Google? X? Your ISP? Your government? Is it like 2 companies you have a choice between at most? Between Verizon or Quest? Between Facebook or MySpace? Between Democrat or Republican?
If there’s extremely limited choices in your markets, you don’t have markets. So you don’t have capitalism.
If you don’t have markets where things can compete for money based on their innovation, you get enshittification from the few companies who control everything. Which is very obviously where we are now.
In short, the enshittification of all things is because we no longer have competitive markets for consumers to use their money to buy what’s best. In its place, instead we have a CRAPitalist system that clearly doesn’t fit the definition of capitalism.
Which is my point. Which is why you cherry picked your answer from Wikipedia rather than reading more than the first paragraph.
So competitive markets are one part of a capitalist system, like I said… and capitalism is defined by using these markets to extract surplus labor value, like I said…
You’re missing the point completely my dude. There are no competative markets anymore. So there is no capitalism anymore. Do you understand?
Without a competative market, the system that’s extracting surplus value is NOT CAPITALISM.
Do you understand what the word “constituent” means?
It means, “a component that is part of a whole (noun) or something that’s necessary to form a part of a larger structure (adjective).”
Competative markets are constituent components to Capitalism. Thats what the wipedia page you linked says right after you stopped quoting it. So without competative markets there is no “whole” there is no capitalism.
If you sit down in a theater to watch a movie, and the projector doesn’t work, do you think you watched that movie? You bought a ticket for it. You sat down. But the constituent component of a projector broke, so all you saw was a black screen.
That is not a movie. Let alone watching one. But you would argue it is because you bought the ticket and sat down in the theater.
Capitalism’s competative markets are likewise broken, so what people are now experiencing is NOT capitalism.
This is not a hard concept to understand.