[altern8]

Is that in any dictionary, though? Capitalism means capitalism, free market with citizens owning companies.

If it's deeply entangled in the Protestant work ethic and prosperity gospel ideals in the U.S., then what's bad is the Protestant work ethic and prosperity gospel--whatever that might be.

[krapp]

Capitalism is what capitalism does. Name one "capitalist" economy strictly and exclusively defined by a "free market with citizens owning companies." None. There are no free markets. Governments always own some interest in companies, regulate and interfere in markets. Culture and morality always influence class and power hierarchies, and by extension economic systems. The real world is more complex than dictionary definitions allow.

[altern8]

Right, I agree that governments should stay out of people's business.

If you're saying that governments always mess with the free market, then I guess we're in socialist-capitalist economic systems..? Still better than just socialist.

[krapp]

If your definition of capitalism requires pure free markets, and you consider any regulation of markets by government to be socialism, then yes all existing economic systems are socialist and no capitalist systems exist.

Personally I don't find a framework so reductionist that it considers the USSR and the US to be equivalent to be very useful.