Indeed, what people want or value be predicted, known, or calculated by anyone in public authority -- it is often difficult enough when one is buying presents for those of intimate acquaintance -- which is why capitalism produces wealth to a greater degree than any other system: every exchange in the marketplace is a transaction, and transactions wealth.
Something very, very different happens today under the label of “neoliberalism.” Marketization—privatization and commodification—is imposed on labor *but not on capital*. On the contrary, the general tendency is to use claims about the benefits of free markets as the lure, while establishing a system fundamentally at odds with the liberal understanding of market economics.
Capitalism without Capitalists - American Affairs Journal
Today some four hundred transnational companies control about 80 percent of the capital assets of the global free market and are extending their grasp into the ex-communist countries of Eastern Europe.
The Problem of Fractional Reserve Banking, Part 1
To the left of the center-left, the focus on neoliberalism is not as analytically problematic as Goldfarb suggests, but on the other hand, it is far more politically-problematic than merely being elitist. Even if the general public knew what neoliberalism was, focusing on resisting that would be a far cry from resisting capitalism in its entirety. Goldfarb is right that “democratic intellectuals” need to be cognizant that people may misunderstand the term neoliberalism. We’re talking about privatization. We are talking about a kind of extreme capitalism, of “market fundamentalism.” We should be clear about this, and this means exploring how policies like the ACA still, in various, ways reinforce neoliberalism and resist genuine democratic socialization of the fundamental spheres of life necessary for a just, egalitarian, and humane society. Neoliberalism is a perverse escalation of an already-perverse political-economic capitalist system, and that is what we should focus our energies convincing people of.
Imperialism 101 - Michael Parenti Political Archive
Capitalist imperialism differs from these earlier forms in the way it systematically accumulates capital through the organized exploitation of labor and the penetration of overseas markets.
It's not just an American problem, either
What does “market-based” mean here? The question is of absolutely central importance. As an economic doctrine, liberalism counsels maximizing social coordination and “win-win” transformations facilitated by competitive markets. This is possible—to the extent that it is—only on certain conditions, at once social, political and economic, being widely and freely accepted within a given society. And it only works (in limited fashion) if both labor and capital are subject to competitive pressure. That is the only way to form price signals capable of generating accurate information and allocating resources efficiently—where efficiency is understood in Pareto-optimal terms. This is the necessary (if perhaps impossible) condition for both the efficacy and legitimacy of a liberal order.