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Where has there ever been "unfettered capitalism"?
Quote:
Originally Posted by BornintheSprings
USA in 19th and early 20th century
Close but no cigar. The US economy until the 20th century was largely the handiwork of Alexander Hamilton, the first Treasury Secretary. He was far from a proponent of unfettered capitalism. He was an advocate of big, brawny, centralized gov't. He actually considered national debt to be a good thing. He thought it provided a means for gov't to dole out favors, and thus increase the leverage of DC. Hamilton also an advocate of gov't subsidies for industry. He helped found Paterson, NJ as a sort of experimental public/private partnership between DC and industry.
19th/20th century US was certainly a very low tax place, but not 'unfettered capitalism.'
19th/20th century US was certainly a very low tax place, but not 'unfettered capitalism.'
I don't disagree but no nation on earth has ever had unfettered capitalism. The USA was the closet analogue to the what the laissez-faire disciples are concerned with.
China still has many government owned companies. The definition of socialism is 'government [or collective] ownership of the means of production.' China is still socialist to a large degree. There have been efforts to change this, but not wholly successful as yet.
China still has many government owned companies. The definition of socialism is 'government [or collective] ownership of the means of production.' China is still socialist to a large degree. There have been efforts to change this, but not wholly successful as yet.
Workers have no rights in China 18 hour shifts are common in the factories wealth inequality is absurd. Sounds pretty capitalist state capitalism that is.
Saying that our current system is capitalist is a small victory for the leisure class. In fact we are now much closer to a neofeudal preindustrial extractive system than to old industrial capitalism.
The first thing we have to do is to fix our language and tell things by its name. For instance, casino style neoliberalism is not industrial capitalism, rent-seekers are not job creators, financial wealth is not wealth at all, and there is no such a thing as a [free] market, etc.
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