5 ms·
That's not capitalism, that's market economics. Often (arguably universally at this point in history, but watch this space) found together but not at all the sa
by stevetrewick 11y ago
That's not capitalism, that's market economics. Often (arguably universally at this point in history, but watch this space) found together but not at all the same.
Your point stands, nevertheless.
- merpnderp 11y agohttps://en.wikipedia.org/wiki/Market_economy https://en.wikipedia.org/wiki/Market_economy First section.....Capitalism. Capitalism is certainly a type of market economy.
- eric_h 11y agoSquares are rectangles, but not all rectangles are squares.
- mikeash 11y ago"In state capitalist systems, markets are relied upon the least, with the state relying heavily on either indirect economic planning and/or state-owned enterprises to accumulate capital." Your own link doesn't support what you're saying.
- merpnderp 11y agoState Capitalism may be an actual thing. But no one means it when they say "capitalism". "State capitalism is usually described as an economic system in which commercial (i.e. for-profit) economic activity is undertaken by the state, where the means of production are organized and managed as state-owned business enterprises"
- mikeash 11y agoI find this response to be curious. Why not simply assume that the other person up there does include State Capitalism under the umbrella of "capitalism" when they say that capitalism and free markets don't always go together, rather than assume that they intend a definition of "capitalism" that automatically excludes the very thing they were saying?
- merpnderp 11y agoBecause the person I was responding to was saying that capitalism didn't include a group of "loosely affiliated" people competing for business. It obviously does. State Capitalism would be if the government started a dentist company and, in this case, didn't offer new services in order to keep the profits artificially high.
- stevetrewick 11y agoIt's not even remotely obvious that capitalism must include any competition. You might try reading the Wikipedia entry you linked.
- merpnderp 11y agoMaybe to a pedant. But in the common usage of the term it is interchangeable with a free market, where competition is always allowed.
- mikeash 11y agoIsn't it pedantry when a person links to Wikipedia and insists on using the meanings therein?
- merpnderp 11y agoYeah, because capitalism means socialism, right? That's what state capitalism is, so let's just use the same word for both, then everyone will be on the same page and all the confusion resolved.
- mikeash 11y agoI find it very confusing that you link to a Wikipedia article, pull a statement from it, then spend all of your replies arguing against what that article says.