Once upon a time, corporations sought advantage by championing right-leaning politics. Now they seek advantage by championing left-leaning politics. The reason for this is that lobbying governments has become less effective than lobbying the general public.
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Replying to @itsukarine
Equality and fairness, when enforced by interventionism, fly against the principles of an unregulated free market.
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Replying to @G_S_Bhogal @itsukarine
Where are the unregulated free markets? Loads of regulations at work in the USA, Europe as you well know.
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Replying to @philosophicweb @itsukarine
Precisely, which is why the West can no longer be considered to have pure capitalist (laissez-faire) markets.
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Replying to @G_S_Bhogal @itsukarine
So that point needs to be added to every instance of using the word 'capitalism' wouldn't you say? Praps a new term is needed.
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Replying to @philosophicweb @itsukarine
Most of today's markets are mixed economies. Capitalist generally describes markets that are predominantly private sector. Socialist describes markets that are predominantly public sector. For pure capitalist markets, we can use laissez-faire.
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Replying to @G_S_Bhogal @itsukarine
China, Nth Korea you mean, as 'predominantly public sector'? Venezuela, but latterly not so much? Trying to think where u referring to
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Replying to @philosophicweb @itsukarine
Pretty much, yeah, although I'd describe China as state capitalist rather than actual socialist (as it describes itself). More info here: https://en.wikipedia.org/wiki/List_of_socialist_states …
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Replying to @G_S_Bhogal @itsukarine
So somehow the state is not involved in 'socialism' according to this definition. Can't be said. State always involved - to date.
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Yes, it is a truism that countries are mixed markets composed of private & public sectors. My tweet was about how corporations, once the biggest advocates of laissez-faire, now use socialist ideas to increase their brand value. The existence of interventionism doesn't change that
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