> The leading undergraduate econ text was Samuelson's in 1969. He had a > theory that the US economy is mixed capitalism/socialism.
It's important to remember that for mainstream economists such as Samuelson, "socialism" refers only to active government intervention in the capitalist economy. The Big Duality in this way of thinking is market/decentralization vs. government/centralization, with no explicit role for democracy or class in the story. Thus, "socialism" might be social democracy, but it might instead be New Deal-type policies, the warfare/welfare state, or even fascism. This vision is shared by the Teabaggers, who accuse Obama of being a "socialist" in contrast to "free market" or "laissez-faire." -- Jim Devine / "Reality is that which, when you stop believing in it, doesn't go away." -- Philip K. Dick _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
