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I think we all agree that western nations do not have some kind of pure form of libertarianism. That's why we call it capitalism, and not libertarianism.
by gress 12y ago
I think we all agree that western nations do not have some kind of pure form of libertarianism. That's why we call it capitalism, and not libertarianism.
- nickff 12y agoHow much government regulation, redistribution, and ownership is required before we call it socialism? I am not saying that socialism or mixed systems are bad, but I would like the system we are in to be accurately described. It seems that many of the bad things which occur are ascribed to capitalism, when they should be attributed to the mixed (or socialist) economy we actually inhabit in the west.
- gress 12y agoSurely that's why libertarians make a distinction. Capitalism is the word we use for the various systems that we inhabit in practice. The things that you are calling 'socialism' are the products of democracy.
- josu 12y agoNowadays the public expenditure of many European countries is above 50% of the GDP. This is, more than 50 cents of every monetary unit are being expropriated and distributed according to a central planning. Even for the US, the figure is around 40%.