State capitalism

At one time government managed socialism was locked in a conflict with market-managed capitalism. The U.S. and western Europe championed capitalism. The Soviet Union and China preached the values of socialism. The competition between socialism and capitalism was 'hot and heavy' according to all the pundits. Let's take a quick look at three rivalries within the broad scope of competition between the two systems: East Germany v. West Germany, North Korea v. South Korea, and mainland China v. Taiwan. Today we have one Germany that supports market-managed capitalism, China moving towards more market-managed capitalism, and North Korea lagging the rest of the world while South Korea is a world player.

One would have to say the capitalist victory was overwhelming. Some have said wait a minute - market-managed capitalism is not a fair system. We will tone it down and it will now be known as state capitalism. State capitalism has a larger proportion of state ownership than market-managed capitalism. State capitalism interferes much more in the market mechanism by enhancing regulations such as price controls. Golly gosh does this sound familiar? The current U.S. leadership team has invented the item now known as state capitalism.

Welcome to America!