Greed, avarice, rapacity, the quest for filthy lucre, are none of them traits peculiar to western Europeans of the last few hundred years — the capitalist epoch. Eastern potentates, feudal lords, magnates of the church, humble peasants, noble Romans, cultured Greeks and many others have been infected with the love of gold. The desire for wealth is not confined to capitalism; wealth for high living, conspicuous display or hoarding are all non-capitalist. Mediaeval and Renaissance monarchs shared with a number of ‘primitive’ tribes a taste for extravagant display. The hoarding of treasure typical of French peasants (at least until quite recently) is strikingly similar to the practices of wealthy Romans described by M. I. Finley.
None of these people are capitalists in any strict sense of the word. Some of them own some means of production — although this would not necessarily be true of churchmen or princes who were the beneficiaries of systems forcibly expropriating a surplus from the producers. But even those who, like some peasants, own means of production, do not necessarily live in a capitalist system in a capitalist manner. They do not reinvest in order to procure further income; they merely exchange commodities for money, which is then exchanged for other commodities or hoarded (not ‘saved’ or invested, merely hoarded). Capitalism, on Marx's account, involves a different process — money is exchanged for commodities which are exchanged for money once more: M-C-M rather than C-M-C. In Capital Marx describes hoarding as a petrification of money; it exists in a naive form in traditional societies producing for a limited circle of wants.