Before I get to work on my homily/oral final tonight, I want to get a quick note or observation out. Recently it was observed (I think I read it somebody saw it touted by Kevin Drum) that progressives are trying to rename or redefine capitalism and free market. It seems they think that “free market” is really socialism and “capitalism” really means something like protectionism for big business and mega-corporations.
I don’t want to delve into parsing what the word “capitalism” really means, but I have no clue as to how one jumps from free-market to socialism. I thought free-markets mean minimizing barriers to entry to markets and any reducing or eliminating any restraint of trade between actors (corporations and individuals). Minimal regulation and as well minimal safety nets. That’s what free market means to me, which has nothing in common with socialism, which I associate with big government and lots of market controls.
For that matter who thinks support for capitalism means protecting big business interests?
Perhaps this has to do with this kerfuffle about Mr Obama “redefining capitalism” and some knuckle-head thought they should also re-define free-market.
Perhaps is just related to this ghastly attempt to re-write history.
I thought it was a libertarian idea
What.
For that matter who thinks support for capitalism means protecting big business interests?
Oh wait, I know this one…. Republicans!
JA,
Uhm, I for one don’t. I don’t know anyone who does.
Perhaps what you really meant is the Democrat’s impressions (as caricature) of what Republicans think.
You may want to look at http://www.marginalrevolution.com/marginalrevolution/2010/01/rename-capitalism-socialism.html for some background. The idea is not from progressives but from some libertarians who think capitalism is a better name for ‘crony capitalism’ or ‘corporatism’ and socialism is a better name for free markets on the grounds that free markets are a ‘social system’.
Clearly one very serious con to this argument is mass confusion over who is advocating what.
JA,
So how do you reconcile being against the bailouts with “protecting big business?”
Whose against bailouts? I seem to recall the last GOP nominee for President said opposing the bailout was unAmerican.
You may want to consider the difference between striking a pose (“I’m against bailouts”) and actually supporting policies in line with a particular ideology (like free markets).
Then as extra credit you may want to ask why soda in the US is made with corn syrup while in South America its made with old fashioned sugar.
Boonton,
A majority of the right wing blogs I read and the entire tea party movement.
Why is not being against bailouts not supporting free markets. An essential part of free markets is risk and failure.
Because of New Deal price fixing of farm prices and their subsidies. Note … this is not part of a free market. (Gailbraith and company)
Not quite, sugar doesn’t grow very well in most of the US except for some areas of Florida. It does, however, grow nicely in S. America. As luck would have it, there happens to be strict import quotas on sugar from S. America. As a result soda companies find it cheaper to buy syrup rather than plain old sugar. Those import quotas are strongly supported by GOP congressmen from S. Florida. (Granted cheap corn helps from subsidies helps too).
Such was not a New Deal invention. Quotas and tariffs go back to colonial days, in fact the colonies themselves were a type of protection racket for mother England.
A majority of the right wing blogs I read and the entire tea party movement.
Strange how that only seems to translate into anti-Obama political action.
Boonton,
Strange how you’ve forgotten the political fortunes of the GOP arising from in a large dissatisfaction over fiscal policy with their party that brought Mr Obama and the majority in both houses to pass. Odd that.
Sugar grows quite well in Louisiana and Mississippi I think as well.
Which proves nothing, if S. Florida was a democratic stronghold those quotas would be strongly supported by Democratic congress-weasels.
Are you trying to pretend that the Democrats are the party standing firm against tariffs?