Sanctissima wrote:The Persian Socialist Federation wrote:
Capitalism is simply the private ownership of Capital by an individual who uses said Capital to create profit. The state develops after the economic mode of production. This is Marxism 101
Yes yes, and Venezuela is state capitalist because there's some privatization. I'm well-aware of Marxism's many attempts to redefine everything imaginable so as to suit its own ends.
For people who actually care about real, generalized definitions though, Capitalism is a system wherein the majority of the economy is privatized, and is market-driven.
The commonly accepted definition according to Political Scientists is "Private ownership of the means of production, distribution and exchange" your definition only accepts the first parable, production. And ignores distribution and exchange. So according to your definition, Britain's war economy under Winston Churchill was Socialist, not Capitalist, because the state held the means of production. Even though distribution and exchange were still private and Britain utilised the market.
Venezuela has markets, a majority of its economy under private control, private distribution, private exchange, profit motive, wage labour and extraction.



