[dmorgan]

>Is there a word for market based socialism? You know capitalism with hair cut upside (taxation) and a hard floor protected low side (poverty).

It's what holds in most European countries with a welfare state (and, to a lesser degree even in the US). It has been called various things, from "the third way", to "social democracy".

Though, in Europe (and also in the US), the "free market" guys, neo-liberals and financial interest have reigned supreme since the Thatcher/Reagan era, with the dire results we see today. Kind of like the US economy actually worsened after Clinton, despite him being more "socialist" (to the degree accepted by the american public).