this post was submitted on 23 Aug 2024
1 points (100.0% liked)

Socialism

5184 readers
3 users here now

Rules TBD.

founded 5 years ago
MODERATORS
[email protected]
1
A tale of two systems (lemmy.ml)
submitted 2 months ago* (last edited 2 months ago) by [email protected] to c/[email protected]
20 comments fedilink hide all child comments
 
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 0 points 2 months ago

Neither country is state-run capitalism. And anyway, state capitalism is an oxymoron when a state has fiat monetary sovereignty—which the US and China do. Such a state has no need to make a profit, which is foundational to capitalism, because it can and does create as much money as it pleases. You don’t have to take my word for it, you can take Alan Greenspan’s.