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replied 2059d
"State capitalism is modern day South Korea."
Ummm, no? Do definitions not mean anything to you? Or are we calling all mixed economies state capitalism? Is the UK state capitalist?
replied 2058d
The UK is just capitalist. As for state communism, that is what all communist nations are. No private property rights, with the state giving direction.
replied 2058d
Definitions mean something, and so I use them. South Korea is a top down capitalism. The state chose which monopolies they wish to support. The state directs the markets there.
replied 2058d
Every government subsidizes their key industries and monopolies. Research US and corn subsidies, telecom monopolies, the UK and the RBS fiasco or the Government Pension Fund of Norway.
replied 2058d
Every nation backs it's own agriculture so that if the worst case scenarios happen a nation can feed itself.
replied 2058d
Your claims have no basis in reality.

The US, UK, Sweden, China, and South Korea are both mixed economies. They exist on a spectrum of control and free market.
replied 2058d
Here is some backgroundinfo:
replied 2058d
Of course. I didn't mean to imply otherwise. I was talking about how South Korean capitalism is different. State directed from the top down to keep the monopolies they back.