They’re talking about capitalism in practice. In practice, economic policy is shaped less by ideology and more by they relative power of economic classes. When the rich have power, they get policies that favor themselves enacted, and vice versa. It’s only in theory that capitalism is about “free markets,” in practice, the rich support free markets if they alternative is something that’s more harmful to themselves (like taxes and nationalization) and oppose them when the alternative is beneficial to themselves (subsidies).
“Free market capitalism” is a purely theoretical idea that has never existed, and will never exist, because someone’s always going to have enough power to get the government to intervene in the economy to promote their own interests. Generally, left-wing people talking about capitalism mean capitalism in practice, not the theoretical idea.
Arkouda@lemmy.ca 1 day ago
Thank you for demonstrating your lack of good faith early.
njm1314@lemmy.world 20 hours ago
Sure.
Arkouda@lemmy.ca 1 hour ago
Feel free to explain how this is a good faith comment.
Objection@lemmy.ml 1 hour ago
They’re talking about capitalism in practice. In practice, economic policy is shaped less by ideology and more by they relative power of economic classes. When the rich have power, they get policies that favor themselves enacted, and vice versa. It’s only in theory that capitalism is about “free markets,” in practice, the rich support free markets if they alternative is something that’s more harmful to themselves (like taxes and nationalization) and oppose them when the alternative is beneficial to themselves (subsidies).
“Free market capitalism” is a purely theoretical idea that has never existed, and will never exist, because someone’s always going to have enough power to get the government to intervene in the economy to promote their own interests. Generally, left-wing people talking about capitalism mean capitalism in practice, not the theoretical idea.