this post was submitted on 02 Feb 2024
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[–] LibertyLizard@slrpnk.net 0 points 2 years ago (1 children)

Well, feel free to suggest a term you think fits better, but I think it fits, even if it is clearly a different flavor of capitalism than the US or other similar economies.

The point is that socialism means the economy is managed by and for the benefit of workers and ordinary people. In all major imperialist countries like the US, China, and the Soviet Union, the economy is managed by and for the ruling elite, whether that may be private owners as in the US, party leadership as in the Soviet system, or a blend of these two as in modern China. That is why I feel they are similar and belong in similar categories, despite some differences.