State Capitalism

There is a lot of talk these days about “state capitalism”. What is it?The best definition is perhaps, “a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.”In other words, it is textbook socialism. But just as liberals now call themselves progressives, they now call socialism “state capitalism”.Socialism is largely inefficient because the state does not have to worry about shareholders, profits, employees, or any of the rest. The state merely raises taxes and places the money in the hands of unelected and largely unaccountable bureaucrats.And who practices “state capitalism”? China and other communist countries.The left will descend into a lot of chest beating over this, but the facts and definitions speak for themselves. To roughly quote Obama, “words mean something.” And “state capitalism” means “socialism.”The left is targeting corporations and other private sector job producers as evil and corrupt because they want to undermine capitalism and move us to socialism.Barack Obama is a socialist. And the public is starting to see where things are headed and really does not like it.