merc , 5 months ago

Is the US socialist because nVidia is a public company, therefore the shares are owned by the public? Is it a socialist country because most workers have 401(k) plans containing index funds, so they own a tiny portion of every major company? The ownership of the company is shared, so it must be socialism, right? I’d say no, because it’s not shared evenly.

What if a single individual owns a single “mean” of production, but everything else is owned by the state, is that whole system capitalist? To me, it’s clearly not. You could argue that it’s mixed, but I’d say if it’s 99.9% not capitalist, it’s not capitalist.

Modern economies are mixes of socialism and capitalism. The people (through the government) own certain things, and individuals own other things.