Peony43 + warren   27

“Socialism” vs. “capitalism”: what left and right get wrong about the debate - Vox
“All this talk about socialism isn’t about socialism,” Williamson writes. “It’s about the status quo.” The idea that “capitalism” has failed us and that “socialism” is the answer relies on a cartoonish oversimplification of reality. Current economic arrangements in the US, and throughout the developed world, involve a complex mix of “capitalist” market institutions and “socialist” regulatory and redistributive institutions.

If our mixed system is failing many of us, it’s highly unlikely that the blame can be assigned exclusively to either its “capitalist” or “socialist” components, or to the fact that the system is mixed rather than purely one thing or the other. The real debate, as Williamson goes on to suggest, concerns the structure, balance, and integration of the elements that make up our political economy.

This gets lost when the debate is framed as a binary choice between “capitalism” — which the left blames for all contemporary ills — and “socialism.”
socialism/capitalism  economics  regulation  2018  democrats-missed-opportunities  Warren  Bernie 
september 2018 by Peony43

Copy this bookmark: