#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.
Language is a werid thing, a word means whatever you mean it to mean. There is no "right" there is just varying degrees of adoption, some terms are used by some people.To me the more important part is that capitalism is well defined in a technical way so it is useful. When we talk about capitalism as a principle of free markets, its useful. Using it as a catch all term that isnt well defined isnt so much wrong, as it is just not useful and is counter productive.
@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.