urban genie
Well-Known Member
- Joined
- 11 May 2008
- Messages
- 32,591
This is the big mistake that you and many others make, I've NOT described capitalism at all...
Capitalism is about as far removed from neo-con/neo-liberalism as it's possible to to get.
True Capitalism involves banks, corporations and individuals succeeding or failing on their own merits and abilities in a free market economy.
Neo-liberalism is SOCIALISM for banks, corporations and individuals in the form of favourable policies, tax breaks, bail outs etc etc etc
Neoliberalism is an offshoot of capitalism, and far removed from Socialism.
Capitalism is a broad definition bit to put it simply, it’s an economic system that revolves around commodity production and the exploitation of the labor of the working classes (those who produce the comodities) by the Elite (The rich that own the comodities and profit from them).
Neoliberal capitalism is also centered on commodity production, but in its own unique way. It advocates for free, open markets. Its advocates usually believe deregulation (less government involvement in the market) is the solution to most of our problems.
Also despite the name, neoliberalism is not the same as American political liberalism (in the sense of being progressive or leftist). Rather, it refers to classic liberalism (which involves the belief that economic matters should be shaped by private citizens, rather than governments).
Socialism is a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.