TremulousTetra
prismatic universe
A distinctive mode of production, based on private ownership of the means of production, distribution and exchange. Principally, a market economy based on capital accumulation (profit), with a labour process that's exploitative.
what do you mean by private ownership me?
You can have the means of production which is owned completely by shareholders collectively, and many other forms of collective 'ownership' in Capitalist societies.
For me, the collective ownership of the means of production by the church under feudalism, did not in any way negate the feudal mode of production. The church was still taking part in a feudal mode of production. Likewise, the collective control of the means of production in the USSR did not negate a capitalist mode of production.
I'm lead to believe Marx himself gave examples of how the capitalist mode of production did not necessarily need to be held privately, or by a single capitalist.