What's capitalism and what is neoliberal capitalism?

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We often talk about the United States being a "capitalist" country, but in reality is is far from it. It practices neoliberal capitalism. That's where powerful interests basically capture government and use it for the pursuit of profits.

Dinko Blazevic 

why you orange, bro?


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TY for your brief discussion we need more speakers like you. Funny reading the comments and what is espoused by students coming out of college. I didn't go to Uni btw.

I'm autodidact. It is a stitch up. We have a system where the word liberal and socialism are dirty words, but the govt. plays a huge role. The Fed for example, keeps pumping money into the system to make up for the failure of good governance and to help stanch unemployment.

Weaker unions have caused us to lose out. I feel sad. Young people don't even ask the basic questions: Why do things cost so much?

Why do I always have to be in debt to do anything? Why must home prices always rise? And who pays for it all in the end? Most young people are robots repeating the same old line.

Something I'm grateful you touched on: It doesn't matter the exact label (an exercise in nominal ism) It's the basic curiosity to ask why others are so wealthy at the expense of others.

Another problem I have with America is the Myth of


DAngelo136 

But isn't neoliberalism just a logical extension of what capitalism is? Why is capitalism good just for commodities? What exactly differentiates a "commodity" from a "non-commodity" and who decides?


democracyrules2000 

I do like precious metals like silver and gold. I know Mike is not a huge fan of this. However, I wonder If mike will consider a position in gold and silver and at what prices.


Logic, Reason, and Evidence 

This is all just Newspeak.  The beginning of wisdom is to call things by their proper names.  What Mike refers to as neoliberal capitalism is just straight fascism, which is a brand of socialism.


barnacles 

Neoliberalism is more than just an economic system; its goal is to apply economic principals to every aspect of life. It's essentially the marketisation of everything - education, science, healthcare, you name it. The neoliberals think the market can do everything and solve any problem and ANY attempt to fiddle with it or try and ensure a specific outcome (e.g. reduce poverty, end pollution etc) is doomed to make things worse. It's psychotic, but it makes a few people extremely rich, hence it's very hard to fight since they can effectively control the narrative.


Bosniake 

Finaly: Neoliberalism is the path back to capitalism after an economy is destroyed by keynsianism


Bosniake 

Mike, u dont know what capitlaism is. Nobody can sell in capitalism a hotdog at $30 when somebody else is selling for $2 and no employer can offer a $1 wage when an other employer is paying $10. Did u ever hear the word "competition"? And what u labeled as "neoliberal" is nothing then crony capitalism. Go back to MMT