Is it? I mean it’s clearly working well enough that the other capitalist nations are saying their capitalism is unfair. But really it’s a totally different system, and we’re not going to understand it if we just call it capitalism with Chinese characteristics.
I honestly don’t know enough about the Chinese economy to have much of an opinion of it. I was just trying to make a joke because what you described is still authoritarian capitalism to some level, even if it’s working.
It’s not capitalism though. Economists have even given it it’s own name. It’s called mercantilism. It doesn’t help when we just make everything binary.
That’s what mercantilism is. A promotion of trade with state control. Which is different than the free hand of capitalism.
That’s just spicy capitalism
Is it? I mean it’s clearly working well enough that the other capitalist nations are saying their capitalism is unfair. But really it’s a totally different system, and we’re not going to understand it if we just call it capitalism with Chinese characteristics.
I honestly don’t know enough about the Chinese economy to have much of an opinion of it. I was just trying to make a joke because what you described is still authoritarian capitalism to some level, even if it’s working.
It’s not capitalism though. Economists have even given it it’s own name. It’s called mercantilism. It doesn’t help when we just make everything binary.
Fair. You’ve piqued my interest, and I think I need to educate myself here.
Also, honestly I don’t know if it’s better. I just know it’s different and at least we should try to understand.