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Meta_Digital t1_itqwa94 wrote

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bac5665 t1_itqy434 wrote

So capitalism is something we define only by how it's practiced, but socialism and communism are only defined by theory, and any attempted implementations should be called something else if they don't conform to theory?

Am I understanding you correctly?

And Smith is called the father of capitalism. His works are the foundation for the theory of capitalism, every bit as much as Marx is for communism. Just because the term for Smith's new system wasn't used in English until the 1850s doesn't change the historical lineage of that system.

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Meta_Digital t1_itr56mu wrote

Nobody but Stalin claimed achieving socialism, and you can believe him if you'd like I guess.

Smith was describing, not prescribing, economics. Maybe you should read him?

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