Capitalist socialism
"Capitalist socialism" is Haz Al-Din's name for the actually-existing American economy: a planned economy whose planning is captured by financial monopolists.
The formulation
From RESPONDING TO THE COMMUNIST PARTY'S INFRARED BAN (Nov 2021):
> "We have a bloated financial sector, and I want to go farther than even China is right now — I want America's financial sector to be completely eliminated... The financial sector is a form of bourgeois, monopoly capitalist socialism. The financial sector right now is a form of selling indulgences of the planned economy. We live in a planned economy — but on Wall Street the financial monopolists coordinate with each other to get rich off of this financial planning, and rig the system to their benefit, at the expense of the American people."
The argument
- The economy is planned — supply chains, monopolies, state coordination (We already live in socialism). Finance is the toll-booth erected on top of that planning: "selling indulgences" — payment for permission to participate in what already exists.
- Hence the radical demand: not regulate finance but eliminate it — going farther than China's mixed model — because finance is not a sector of production but a parasite stratum on the already-socialized economy (Tendency of the rate of profit to fall).
- The wordplay cuts both ways in debate: when opponents complain socialism is being eroded into meaninglessness ("super capitalist, socialism already won"), Haz agrees the word is eroded — because the reality it names already exists in distorted form. The task is not to invent planning but to expropriate the planners.