#Capitalism Explained...
#Quotes from @freemo conversations in digestible bullet points...
Capitalism (free markets), in it's correct meaning, is not a rule so much as an ideological guideline, and in reality should be in a #mix of many things, where #capitalism is only an #influence of *some* things (not all).
We don't live in a country that is a pure capitalism, or even much of a capitalism at all...
Right now we don't have free markets, and that's the point.
Not only is it not a free market, but it is quite far away from being one.
All-in- version...
We also shouldn't strive for capitalism (free markets) as the default, it's not a rule so much as an ideological guideline, and the reality should be a mix of many things, where capitalism is only an influence.
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3 Capitalism (free markets) Tips:
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is a way of doing things as a guideline - and not for everything to be done in this way.
Capitalism isn't a binary word to say government is or isn't Capitalism since it's mixed.
#Plutocracy probably as better word.
#Plutocracy as a best word to replace Capitalism maybe.
Capitalism perhaps does not mention the rich explicitly -
specifically the rich is perhaps more what people mean sometimes!
(Plutocracy = #political #system governed by the #wealthy people)
Perhaps "Capital" in the word also helps people not see or assume centralization rather than the many versions, including Free Market version which is important next to the word as a kind of sub-type of it"
Capitalism (free markets)
https://en.wikipedia.org/wiki/Free_market
@freeschool @freemo I disagree in the fact that I do not considere capitalism and free market to be the same thing.
Capitalism is a kind of economy, free market is an economic policy applied to a capitalist economy.
You can have a socialist policy and the economy would still be capitalist.
Capitalism (+SubTypes) E.G (State monopoly) capitalism or (Techno) capitalism... Generally the types with power over people or profit over people... ?
@rastinza @freemo Sorry for delay, post didn't show up in my notification or I missed it.
TLDR = see end paragraph!
1/ So yes Rastinza I too was having these thoughts...
... though I am sure not completely in agreeing with you mostly because of your first line because we were writing it as Capitalism (Free Market)... which is the bracketed version and maybe it's contradiction as both are part of the same thing AND each can also be separate in it's own way.
The brackets shows it is a subtype (or economic policy as you say) and written as: Capitalism (Free Market OR ANY SUBTYPE) and maybe both can imply it's on way to be applied to things too...
Overall seems both is use in a variety of ways and all have their sub variants or mix of practices within other big headers as a 'way of doing things' and not just 1 thing...
2/ I realised as Freemo was talking tht he declared along the way 1 sub-type of Capitalism was the focus but initially / to start with it was first more about how *other people* use the word alone as "Capitalism" incorrectly - so if other people do not state it or mean the free market type, (let's say they mean "State monopoly" type capitalism or similar -
https://en.wikipedia.org/wiki/State_monopoly_capitalism
then they are more likely correct IF many more mean this sub-types or infer things of that Capitalism umbrella topic that covers those bad things commonly people mean (to do with the rich ruling, unfair possession, state interventions to keep it unfair, oligarchy etc)...
So perhaps it's generally accepted to mean this type more than any other... and I would accept people are less wrong if a majority means things whatever way they mean it IF they use it enough and assume between them which one they (especially if the other nuances are a bit niche / never learnt and nearly non-existent to them). So if people don't declare it then it might not be (Free Market) and as Freemo confirmed we don't have that type today so could suit most all people who say it and be correct about that (accidentally correct or not!)...
So the type of Capitalism is important of course but most people who don't declare subtype might agree on similar things (which might not know until we asked them) but generally in the State monopoly category or oligarchy / Techno-capitalism ...https://en.wikipedia.org/wiki/Technocapitalism
...and similar variants of power over people or #profit over people... ?
(I just made this up but from hearing it often elsewhere).
3/ Which is why I liked the word #Plutocracy instead of Capitalism...
https://en.wikipedia.org/wiki/Plutocracy
...because as it's a totally different word! HA
CONCLUSION
1 Capitalism has many types
2 Use Plutocracy? https://en.wikipedia.org/wiki/Plutocracy
@freemo @freeschool I feel a definition along the lines of "An economic system in which trade and production is organised by private entities (individuals or companies) to make profit" to be what I'd shortly describe as capitalism.
I wouldn't use it as a catch-all term, plenty of economic systems do not fall within such definition. But a socialist nation would definitely fall within the definition. Keynes argues for government spending in order to make the economy work better, and I never heard anyone say that Keynesian economics is not capitalist. Germany has a bunch of social programs, aids and public infrastructure, but it still is a capitalist economy. China... I don't know anyone who would argue it is not a capitalist country at the moment.
The Soviet union would not fall under that definition of a capitalist economy, current days Cuba also wouldn't.