Real capitalism is small market capitalism, where a person sees an opportunity and takes a risk to try to capitalize on that opportunity.
Where focused effort allows jobs to be created, allows careers to be made, and where the fear of failure drives that success.
Real capitalism is represented by the teeming froth of creation, annihilation and replacement of small businesses and their associated ideas.
I have been self-employed for 30 years
When I started my first business, it required the following:
Being able to take calculated risks
A strong desire to be self-employed
A strong desire to avoid debt and to avoid using other people’s money
A strong desire to maintain a capital reserve, to open up options
Continuous analysis of opportunities and their associated risks
Learning how to do things myself, to preserve capital
Listening to what customers wanted
Hiring people who were more skillful than I
Rather: ESG replaced the backbone of capitalism.