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View Diary: At least make it easy for hardworking Americans to create FOOD (105 comments)

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  •  Welcome to capitunist economics (0+ / 0-)

    Capitalism, assuming that one takes this to mean an economic system based on private enterprise and efficient markets, requires quite a bit of heavy handed government regulation to work.  Most fundamentally, any market economy requires enforceable contracts, a central monetary authority, and protection against outright fraud and intimidation.  To really be a "capitalist" system, it also requires investment capital and "efficient" markets.  An efficient market presumes a comparatively large number of well-informed buyers and sellers.  (Adam Smith railed against corporations in terms that would make a 19th century populist sound like a DLC conservative.)  We also learned in the 1930s (and forgot in the 1980s) that the government plays a role in demand management, at least as a countermeasure to the inevitable economic panics of an unregulated market economy.

    We don't have any of that.  What we have is in good measure a planned economy run by a shadow corporatist "government" whose ideology (and resulting distribution of wealth) is closer to that of a Marxist centralized state than anything capitalist, free market, or free enterprise.  And whether the ideology is secular Marxism or the Christian fundamentalism of the U.S. planned economy, they aren't very good at running stores and farms.

    I wonder how Barry Goldwater feels about all this.

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