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this post was submitted on 10 Oct 2023
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We live in a mixed economy. We do have private ownership of capital (capitalism), but we also have community ownership of capital (socialism).
Is that still a capitalist society? Formal definitions of "capitalist society" suggests to me that you must have a capitalism economy and also a government that I think most people here would call "libertarian". That does not describe Canada.
This is a very narrow definition of capitalism by which I can't think of a single country that would qualify. I'll be honest, it's the first time someone argues with me that our modern world of Keynesian macroeconomics isn't fundamentally capitalist.
I also strongly disagree that having social components to your market economy makes you not Capitalist. Free Market is not all Capitalism is.
Capitalism most definitely has nothing to do with free markets. Capitalism is very specifically the state of having private ownership of capital. Nothing more, nothing less. Clearly you can have capitalism and regulated markets. There is no market in Canada that is not regulated, but we still manage private ownership of capital just fine.
"Capitalist society" is something else, but not well defined, so that is where the question stems from. You disagree with the definitions I could find, which is fair, yet failed to offer your own. Is there a reason you are running away from the question and going on weird random tangents?