capitalism
capitalism
Out of context: Reply #202
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- TheBlueOne0
The very fact that the modern economy is directed and dictated in various measures by the Federal reserve System, the IMF and the World Bank means we ipso facto operate in a mixed economy framework, and that's leaving out government spending on defense and social programs. So to somehow say that your core definition of working modern capitalism rests on the premise of a divorce between state and economic concerns, would be, a primary error.
Furthermore to argue that a Keynsian approach (of which I would say I am a proponent) to market capitalism is somehow "not capitalism" in comparison to say Freidman and the Chicago school is kinda of silly.
And I just wrote all that there on my own without copying and pasting anything.
- That said, I do think Polyani had a better critical framework of capitalist systems than Keynes...TheBlueOne
- Theory vs. practice. My question was in regards to theory.hedge
- ..and the idea of these criticisms is to make the system work better, not eliminate it.TheBlueOne
- "theory and practice"? My my hedge..that sounds downright MarxistTheBlueOne