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What do people mean by the words capitalist and socialist

By: Cactus Flower in ALEA | Recommend this post (0)
Sat, 09 Mar 19 11:44 AM | 42 view(s)
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Pretty dumb to ask if one believes themselves either a capitalist or a socialist, as if there isn't a spectrum of ideals.

Am I a capitalist? Yes, if you mean I think markets are an important part of the economy. No, if you mean government plays no role in the economy, that you ignore the fact that there are things called negative externalities which markets don't resolve on their own, and so on.

Am I a socialist? Yes, if you have a diluted definition, meaning some features of a society are better run by government and you want to reduce gross inequalities. Defence, healthcare and education are three examples in which market dynamics aren't efficient and that produce results I find repellant. No, if you mean central planning, the pursuit of strict equality and the abolition of competition.

These are such primitive labels. When will we move beyond the arguments of the nineteenth century?


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