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Quote from trendlover:
Rearden, maybe I do not understand what Ayn Rand talk about.
I think collectivism is the part of free market. For example, research for drugs or food is collection of many tests of scientists from the collection of the researchers. So people take the drug or eat food on the market because of (collective peer approved)
Another example, Goldman Sachs. The company make money no from the individual, but from all employee (collectively) to the same goal.
Quote from trendlover:
Rearden, maybe I do not understand what Ayn Rand talk about.
I think collectivism is the part of free market. For example, research for drugs or food is collection of many tests of scientists from the collection of the researchers. So people take the drug or eat food on the market because of (collective peer approved)
Another example, Goldman Sachs. The company make money no from the individual, but from all employee (collectively) to the same goal.
Quote from Ghost of Cutten:
Capitalism = a social system based on private ownership and exchange of goods & labour.
Two subsets of capitalism:
Free market capitalism = private ownership and exchange, based on free/voluntary transactions and individual/property rights. Examples - any market without significant state or criminal interference. Closest examples are probably 20th century Hong Kong under British rule, 19th century northern USA.
Corporatism/conservatism = private ownership and exchange, but various private and state bodies have the power to forcibly prohibit or extort goods & labour e.g. government licensed monopolies, trade bodies/guilds, land seizure, sometimes more extreme stuff such as slave trading, corporations stealing resources from 3rd world countries and so on. Individual & property rights are somewhat respected but ultimately subordinate to state authority. Examples - colonial powers like USA, UK, Japan, Australia, Canada.
Communism = total government ownership and control of goods & labour. Examples: USSR, Cuba, N Korea, 1960s China.
Socialism = widespread but not total communism (some areas are left under private control and some degree of liberty). Examples - 1960s-90s Africa, most of the Arab world, 1970s UK, 1950s-1970s Italy, 1980s France, India from independence up to the 1980s.
Social democracy = mix of corporatism/conservatism and socialism. Examples - Scandinavia, Germany, France.
Socialism and communism are demonstrable failures, but the other 3 have all produced functioning societies - take your pick.
Quote from OPTIONAL777:
...and where would you place Red China?
Quote from Ghost of Cutten:
During what era? Obviously nowadays it's not a communist government despite the name. It hasn't been communist since the late 70s really. I would say today it's an authoritarian socialist state which is moving towards some corporatist/capitalist policies.
I suggest that you read what professional philosophers say:Quote from trendlover:
Yes. Ok Cutten, I understand what you are saying.