Actually existing capitalism
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Actually existing capitalism or really existing capitalism is a term meant to be ironic and is used by critics of neoliberalism. Actually existing capitalism is used to point out that many economies that claim to practice capitalism, which tends to be characterized by a laissez-faire free market system, in fact have significant state intervention and partnerships between private industry and the state. The term mixed economy is also used to describe economies with these attributes.
While many countries use a market based system, many of these countries use several forms of regulations to avoid economic problems such acute commodities fluctuations, financial market crashes, monopolies, and environmental protections.
Contemporary Marxists claim that several of Karl Marx's prediction of the future of capitalism became true since the government's controls and regulations now play a big part in the capitalists countries economies.
- Sayers, Sean. Marxism and Human Nature. Routledge 1998 page 105
- Saree Makdisi, Cesare Casarino, Rebecca E. Karl. Marxism Beyond Marxism. Routledge, 1996. p. 198
- "Marx Was Right: Five Surprising Ways Karl Marx Predicted 2014". Rolling Stone. Retrieved 2015-11-04.