Journal shanen's Journal: Where did capitalism go? 1
American capitalism has died. Old-fashioned capitalism has now mutated into something that we should call corporate cancerism. The Russians have basically the same thing, though they got there by a different route. Now we are witnessing a battle royale between two strains of economic cancer.
Corporations win, humans lose. Have a nice day?
Welfare Capitalism (Score:2)
is what FDR brought to the USA to fix things. Basically Keynesian Economics which is like communism lite aka social democracy.
In the USA, Bush, Obama, have bailed out their friends in big companies too big to fail, and from crimes too big to jail. This is welfare capitalism, where they give corporations billions of dollars, because they done goofed and lost a lot of money, and instead of going bankrupt or being bought out by a better corporation, they are rewarded for their gross incompetence with billions