Category Archives: economics

Capitalism and socialism: The third way

This called-for “third economic way” has been a subconscious interest of mine since watching Slavoj Zizek and Jordan Peterson debate last year. I recently came across the question again, this time in the context of global sustainability.

I view the United States as a historically capitalistic nation with socialistic checks-and-balances. This transcends anti-socialist rhetoric (for example, Trump’s) in at least one instance: the welfare state’s continuation from the 20th century.

I’m a firm believer in progress adding–not detracting–from what has been accomplished prior. I view the U.S.’s recognition of our economy’s downturns and their causes to be an excellent case-in-point for how the world will establish the most balanced economic system to date.

Does the above mean socialism will rise further in my country? Maybe. But, it likely won’t (and, in my view, shouldn’t) replace capitalistic ventures. Throwing the baby out with the bathwater is bad for family business!