3:27–> So is this another example of socialism?
– Laura, a long time ago, we used to begin our Economics one classes by defining capitalism and socialism. And then a mixed market economy, which is what the US is. We use markets and we also use government.
And then I stopped teaching that, because I thought everyone understood it and we didn't need to just repeat ourselves on pointless, mindless things. And then you add on these things are more often thrown around as slogans than as anything else.
So I'm going to use a different word just because socialism, communism, all that, there's so much baggage.
The debate here is about: How interventionist is the government?
Historically, the Republican Party was the party of small government.
It didn't want the government telling you or telling businesses what to do.
This, though, is the most economically interventionist government of my lifetime, and I'm 53 years old.