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@selfmodruntime Arguing that the existence of regulations makes an economy non-capitalist is something I've only ever seen extreme left and extreme right-wing p
by KPGv2 1y ago
@selfmodruntime Arguing that the existence of regulations makes an economy non-capitalist is something I've only ever seen extreme left and extreme right-wing people make. Everyone else recognizes "capitalism is a system based on private ownership, wage labor, and private capital accumulation" as a fundamental truth, including, like, all experts in this field. Ultimately, you're making a No True Scotsman argument.
Germany's market is an example of welfare capitalism, which is a type of capitalism.
What you're writing reminds me very much of "the USA isn't a democracy, it's a republic!" (as if a republic isn't a type of democracy called "representative democracy")
- mfru 1y agoexactly, it is like the "this is not capitalism it is corporatism!" argument the libertarians like to make about the US.
- selfmodruntime 1y ago> @selfmodruntime Arguing that the existence of regulations makes an economy non-capitalist is something I've only ever seen extreme left and extreme right-wing people make. Good thing I haven't argued that at all. I was arguing that Germany, which calls its economic system "Social Economics" in fact employs this very economic strategy, which is defined as not being straight forward capitalist but as a mixture of capitalism and socialism. > Germany's market is an example of welfare capitalism, which is a type of capitalism. Germany's market is per definition not welfare capitalism, but "social economics". This term exists, it is well defined, you can look it up.