@Daru I hope everyone can agree on the definition that capitalism = free markets. So then why do people insist on calling un-free markets capitalism? Especially when there are readily available labels for those economic systems? Corporatism is when the state gives out special benefits to selected corporations to the detriment of free competition. And no, it is obvious that most regulations of the market is to secure the market position of the big corporations. In a FREE market those big corps would be fully exposed to competition. Now keep in mind that corporatism does not care about the knickknack store on the corner, it is all about the big business. So from the ground level it might seem to be a free market but when you look up all you see is a bunch of state mandated and protected oligopolies or even monopolies. See the banking system in most countries for prime examples. And of course, corporatism is the economic system of..; fascism.
0
@Daru I hope everyone can agree on the definition that capitalism = free markets. So then why do people insist on calling un-free markets capitalism? Especially when there are readily available labels for those economic systems? Corporatism is when the state gives out special benefits to selected corporations to the detriment of free competition. And no, it is obvious that most regulations of the market is to secure the market position of the big corporations. In a FREE market those big corps would be fully exposed to competition. Now keep in mind that corporatism does not care about the knickknack store on the corner, it is all about the big business. So from the ground level it might seem to be a free market but when you look up all you see is a bunch of state mandated and protected oligopolies or even monopolies. See the banking system in most countries for prime examples. And of course, corporatism is the economic system of..; fascism.