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With all of the meddling (tariffs, subsidies) by the government, isn't this market closer to mercantilism than capitalism?
by raintrees 18y ago
With all of the meddling (tariffs, subsidies) by the government, isn't this market closer to mercantilism than capitalism?
- cia_plant 18y agoI don't think the terminology is very much standardized. Our system is not "pure" capitalism, and perhaps it would be better to call it a mixed economy. By using the word capitalism, I mainly meant to contrast it with radically different systems, such as feudalism and central planning (I'm not aware of whether these systems also encountered boom/bust cycles.)