[lbo-talk] socialism defined

Lew wsm_mod at yahoo.co.uk
Mon Feb 8 04:45:41 PST 2010


Joanna wrote:


> In case you were wondering.
>
> "American socialism has long functioned under the principle that a
> strong central government, lavishly funded by the middle and upper
> classes, should influence the economy in the name of "social justice,"
> and provide benefits to the lower class.

In terms of economics, this is more or less how the Keynesian Left (including some who would call themselves Marxist) also define socialism: If the economy is in difficulty, the government should spend its way out of trouble.

-- Lew



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