The free market tide has now receded. In its place has come state capitalism, a system in which the state functions as the leading economic actor and uses markets primarily for political gain.
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"State Capitalism Comes of Age," Foreign Affairs (May/June 2009)Ian Bremmer
I should say that when people talk about capitalism it's a bit of a joke. There's no such thing. No country, no business class, has ever been willing to subject itself to the free market, free market discipline. Free markets are for others. Like, the Third World is the Third World because they had free markets rammed down their throat. Meanwhile, the enlightened states, England, the United States, others, resorted to massive state intervention to protect private power, and still do. That's right up to the present. I mean, the Reagan administration for example was the most protectionist in post-war American history. Virtually the entire dynamic economy in the United States is based crucially on state initiative and intervention: computers, the internet, telecommunication, automation, pharmaceutical, you just name it. Run through it, and you find massive ripoffs of the public, meaning, a system in which under one guise or another the public pays the costs and takes the risks, and profit is privatized. That's very remote from a free market. Free market is like what India had to suffer for a couple hundred years, and most of the rest of the Third World.
Noam Chomsky
State capitalism is about more than emergency government spending, implementation of more intelligent regulation, or a stronger social safety net. It’s about state dominance of economic activity for political gain.
Ian Bremmer
It's not a third way between state capitalism and free markets, it is the free market way. Multi-national corporations should be the principal actors, but they should be properly regulated.
Ian Bremmer
In the last 21 months, if you've learnt anything, it's that the state is back. If the free market fails, it's not because it's been defeated by state capitalism; the only people that can defeat the free market is us, we're the only ones who can destroy it.
Ian Bremmer
Money ... is the nerve center of the economic system. If, therefore, the state is able to gain unquestioned control over the unit of all accounts, the state will then be in a position to dominate the entire economic system, and the whole society.
Murray Rothbard
Bremmer, Ian
Bremner, Rory
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