The Reality Based Community apparently doesn’t understand the concept:
And I can think of a law professor at a legitimate university, who also commands a blog audience of 100,000 readers a day who thinks that Barack Obama (whose most admired economic thinker seems to be Alexander Hamilton, and who supports the market-oriented cap-and-trade approach to containing global warming) is a socialist.
First off, Alexander Hamilton was a mercantilist, not an advocate of true free markets. He was, in fact, the first advocate of strong economically interventionist national government. It’s not surprising that Obama, or any other Democrat (or Republican, for that matter) should have a high opinion of him.
Second off, “the cap and trade approach” is the essence of socialism: government making decisions instead of the actual producers. A true free market approach to the problem of global warming (NB: I don’t agree that it is a problem, or more precisely, that human activity has worsened it, if it is getting worse–but that’s another post.) would be for entrepeneurs to develop solutions to a perceived problem–you know, invention and innovation–and users, by buying or not buying those solutions, decide which ones are the best solutions–better yet, users deciding if the solutions are needed in the first place.
Quoth RBC:No one who wants to leave the means of production in private hands can sanely be called a socialist.Any government intervention in the means of production takes it away from the private hands, even if the title and remaining profits remain in those private hands, is socialism. The agenda of both Democratic and Republican parties is rife with government interventions.