Actually existing capitalism

"Actually existing capitalism" or "really existing capitalism" is an ironic term used by critics of capitalism and neoliberalism. The term is used to claim that many economies purportedly practicing capitalism actually have significant state intervention and partnerships between private industry and the state. It is a play on the term actually existing socialism. The term mixed economy is used to describe economies with these attributes. The term seeks to point out discrepancy between capitalism as normally defined and what is labelled as capitalism in practice and to claim that (1) capitalism as defined does not and will not exist and (2) such a "pure" capitalist system is undesirable. The term is used as a response to the economic doctrines that have dominated western economic thought throughout the neoliberal period.

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