People often assume that capitalism is defined by "markets and trade". But markets and trade existed for thousands of years before capitalism. Capitalism is only 500 years old. So what is distinctive about this economic system? Three things (well, more, but three for now):

1. First, and most importantly, it is defined by enclosure and artificial scarcity. The origins of capitalism lie in a systematic effort by elites to restrict people's access to commons and independent subsistence, in order to render them reliant on wage labour for survival.

Over the past 500 years, this has taken the form of privatization of commons, forced dispossession, destruction of subsistence economies and - particularly in the colonies - taxing people in a currency they do not have in order to induce them to seek wages in that currency.

This continues today, with attempts to ensure an artificial scarcity of access to essential goods such as housing, healthcare, education, transit, and so on - goods that could very easily be provided, at high quality, on a universal public basis.

Where universal public goods do exist, these have usually been won by longstanding struggles by labour movements and other progressive forces (including the anti-colonial movement).