[Public_Domain]

[BeaverFever]

Proculation Proculation:

Sorry but totally untrue.

That is the definition of a corporatism state, not a capitalist one. Don't mix the two.

There no longer is a meaningful difference, they have already become mixed.

[Proculation]

BeaverFever BeaverFever:

Proculation Proculation:

Sorry but totally untrue.

That is the definition of a corporatism state, not a capitalist one. Don't mix the two.

There no longer is a meaningful difference, they have already become mixed.

They may be mixed a lot in the USA but they are still different. Blame corporatism, not capitalism.

[BeaverFever]

That's why I said "the new capitalism". Corporatism is the new capitalism.

[Proculation]

BeaverFever BeaverFever:

That's why I said "the new capitalism". Corporatism is the new capitalism.

Neo-capitalism is related with a more mixed economy with the state implementing some elements of socialism into the economy. Like we have in Canada and what the New Deal brought to the USA.

However, some people think Roosevelt's legacy created that crony capitalism related to corporatism: when the state plays with the economy, it inevitably brings corruption and favoritism by the lobbies.

In that sense, maybe you're right but that would mean we should come back to a more real capitalist society, not go further to socialism.

[BeaverFever]

No, no. Laissez-faire capitalism with zero government regulation and zero welfare state is what preceeded FDR. It brought about constant cyclical recessions from the civil war and culminated with the stock market crash.

FDR and his successors brought in what generations since then have considered capitalism: Regulation and a modest welfare state that actually SERVES capitalism by offsetting the social costs of a society based on wage-labour. As Keynes stated, captilaist systems should serve both accumulation (the amassing of private wealth) and legitimation (amassing of public support). Regulation and the welfare state served this second function. This era of capitalism is called Keynesian capitalism by some because it served this purpose. It should also be noted that this era of capitalsm brought us the longest period of uninterupted growth and propserity.

This era was phased out in the mid-70s when Milton Friedman and corporatist (neo-liberal) capitalism became popular once more. While government had always been under pressure to cater to business interests and often showed some preference for them over others, under the new capitalsim government became an all-out bought-and paid for arm of corporations and businesses and all pretenses of neutrality have basically been erased.