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Comment: We might be making progress....

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We might be making progress....

..however, was Russia any less capitalist or any more communist when it was called the Union of Soviet Socialist Republics? Hell, they even claimed to be "republics" as well as socialists. The fact that communism dominates their landscape doesn't change the definition of capitalism. Again, capitalism simply means "the means of production". It has many varying forms, from state capitalism to free market or laissez-faire. Private ownership of production is a key element, however the variations come when other parties such as the state get involved in that ownership. More of China's economy is owned by the state than the US' economy, however, China's economy still exists very much of privately owned companies or means of production. In the US, without even considering the bailouts, the tax code by itself means that the government owns at least a part of every transaction that takes place. THey own a percentage of your pay, your companies profit, your home, your purchases, etc. Throw back in the fact that the government essentially buys companies by bailing them out, and runs them through corporate favors and tax codes, means that we are not any different from China when it comes to being state sponsored capitalists. The only difference is the percent tax the companies pay, thus the percentage that the state "owns" the means of production. Neither system is laissez-fair. We are only slightly less state sponsored capitalist than they are. But to say that their is no difference between types of capitalism, or to say that China is not capitalist, well, that is simply a gross misunderstanding of what capitalism is. Linking Laissez-faire, or free market capitalism with what we have in the United Sates is no more ridiculous than saying that China or Russia is free market capitalist. Saying that China and Russia are capitalist, however, so long as you clarify that they are state sponsored capitalist, is extremely accurate.

Free market capitalism isn't right for America because it works better. It's right because it's free (and it works better).