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EXCERPT:
No one agrees on when, where, or how capitalism began, or whether it had a beginning at all, but everyone agrees that capitalism, the word, first appeared in the 19th century. Capital and capitalist slipped into use, unnoticed and unremarked, in the 13th and 17th centuries. Capitalism burst through the barricades of political argument in the 1830s, announcing immediately the hostility of its user. “Long live capital!” cried the French socialist Louis Blanc in 1839. “Long may we go on to attack capitalism, its mortal enemy, with even more intensity.” As much as the word named something, so did it identify its speaker—as a worker, a radical, a hater.
If capital was viewed as a thing and capitalists as people, capitalism was something else. Blanc described it as an act, the taking of collective wealth and turning it into individual or private profit. Proudhon claimed it was a citadel, casting medieval and military shadows across the land. Despite his obvious interest and extensive writing on the subject, Marx steered clear of the term.