Reactionaries often blame capitalism for eviscerating tradition and reducing everything to the lowest common denominator. But capitalism – i.e., free exchange – is not a recent phenomenon. It was not invented by the Franciscans, forsooth, but rather discovered by them as a subject amenable to moral, theological and philosophical analysis, and so to discourse, development and elaboration. Capitalism has been around since the beginning of human society. It is no more than a fancy word for exchange that develops surplus, after all; for mere trade, and commerce. For almost all of human history, capitalism supported and indeed mediated local tradition – or, at least, did not vitiate it.