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Capitalism is what capitalism does. Name one "capitalist" economy strictly and exclusively defined by a "free market with citizens owning companies." None. Ther
by krapp 5mo ago
Capitalism is what capitalism does. Name one "capitalist" economy strictly and exclusively defined by a "free market with citizens owning companies." None. There are no free markets. Governments always own some interest in companies, regulate and interfere in markets. Culture and morality always influence class and power hierarchies, and by extension economic systems. The real world is more complex than dictionary definitions allow.
- altern8 5mo agoRight, I agree that governments should stay out of people's business. If you're saying that governments always mess with the free market, then I guess we're in socialist-capitalist economic systems..? Still better than just socialist.
- krapp 5mo agoIf your definition of capitalism requires pure free markets, and you consider any regulation of markets by government to be socialism, then yes all existing economic systems are socialist and no capitalist systems exist. Personally I don't find a framework so reductionist that it considers the USSR and the US to be equivalent to be very useful.