This may be a good time to revive this phrase...

What is Social Capitalism? (with pictures)
(via Instapaper)

Social capitalism is an economic philosophy that blends the free market 
sensibility of capitalism with the welfare outreach of socialism. It 
fundamentally rejects the idea that a society must be either socialist or 
capitalist, instead suggesting that great benefit to the free market can be 
obtained through government management of the macro economy. A relatively new 
concept gaining popularity in the 21st century, social capitalism proponents 
suggest that there are numerous social capitalist systems already in existence 
that serve as examples of the powerful potential embedded in this theory.

In traditional capitalism, most actions are dictated by the waxing and waning 
of the market. Governments are meant to have as little market involvement as 
possible, in order to leave the freedom of entrepreneurs, investors, and 
employees intact. In this model, profit is the motivating factor for work at 
all levels of society. The downside of capitalism is that it can create a 
system in which a few prosper and a great many survive, with an additional 
class of those unable to do either. Traditional capitalism tends to rely on the 
survival of the fittest and wealthiest, regardless of whether that wealth or 
fitness is a result of natural talent or inherited position.

Socialism, on the other hand, promotes the inherent equality of all people, 
using rigorous government control to attempt to enforce equity. In the vision 
of Karl Marx, the father of communism, an ideal socialist society would give 
all people equal opportunity, equal wealth, and instill a sense of the common 
good above that of personal advancement. Unfortunately, in practice this theory 
tends to create a system ripe for corruption, in which government members have 
massive control over all other citizens. Since socialism does not exist in a 
vacuum, it is also possible for private entrepreneurs to make personal fortunes 
in international or black market trades, depleting the illusion of equal 
chances for all.

Social capitalism seeks to blend the best qualities of each system while 
dampening the disadvantages of both. Programs that meet a social capitalism 
standard include things like government control of wages and working hours; 
measures that protect the lower-level employees while not unduly inhibiting the 
practice of business. By using government involvement to raise the earning 
potential and living standards of the lowest economic brackets, social 
capitalism actually seeks to boost both market participation and potential for 
market profit.

In most theories of social capitalism, which are by no means in universal 
agreement with one another, government involvement is linked proportionally to 
the economic position of the individual. Middle-income and wealthy individuals 
will feel the least effect of macroeconomic policies, as they are supported far 
more through the practice of the capitalist market. Lower income individuals 
would have the benefit of government-run social programs, such as low-cost 
medical care or job training programs, since the capitalist free market is 
necessarily less concerned with their survival. By assisting people in the 
lower economic brackets, the government following the principles of social 
capitalism would hope to boost these individuals into the upper tier of society 
where they are able to survive in a free market economy.

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Discuss this Article

Post 3
So this is far more fundamental. The US privatized utilities, highways, 
education, prisons. The problem is that when you create a profit motive for 
what are essential services, you create conflict. The prison population has 
skyrocketed because there is a profit motive and then a lobby to create the 
three strikes rule to increase prison population.

Utility infrastructure has crumbled because utilities need to pay shareholders 
instead of putting money back into infrastructure. Highways have been 
privatized to generate more money. There are essential services that should 
never be privatized because they should not be run as a revenue generating 
model, but as an essential service.

Post 1
We need Medicare for all people in the United States. If there are those who 
are having trouble paying taxes, they should be freed during that tax year. 
This debt should be removed from them. Are we the richest land on earth or a 
cruel taskmaster that cares only for the rich and powerful? We need more social 
capitalists in our government. These individuals will be mostly liberal 
Democrats, in the tradition of Truman, Stevenson, Kennedy, and Johnson. It 
would be wonderful to have another Hubert Humphrey, God rest his soul.

I miss Sen. Hubert Humphrey. We do not need a conservative Republican Ronald 
Reagan. On the contrary, we need the liberal Democrat Ronald Reagan of 1948, 
who supported the New Deal, Harry Truman and Hubert Humphrey.

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