Cronyism, time and time again is blamed on capitalism persistently, so if you may ask the question what is capitalism, it is a system opposite of cronyism and I briefly cover the cronyism meaning. Whilst capitalism is all about the freedom of the economy from government intervention, Left Sphere tries to redefine capitalism to suit his own agenda to suit it around government intervention and state direction of the economy, fact is, that is a large part of what defines socialism.
As I explained, there has never been 100 percent capitalism because to some degree there has always been some form of government intervention. Therefore, you know when asking what is capitalism that it is about the freedom of the economy, such as; leaving interest rates to regulate freely in the marketplace via the laws of supply and demand or the ratio of money, even what money people choose to exchange with, which we used to have free market money in gold and silver. So when people ask, 'what is capitalism?' It's all about the market being left to regulate itself.
The things relative to socialism in this mixed economy happen to be the controls and protectionism, whether that being the protectionist tariffs, subsidies, the controlling and manipulation of the ratio of money or interest rates, etc.
Cronyism as I explained is based around strong government regulation, too many people like Left Sphere wrongly confuse corporatism as a system that thrives off of deregulation when it's the opposite way around, it actually thrives off of government regulation that helps the big corporations gain the monopolies that they do.
If you have any questions that you would like to ask on the subject, comment below or anything of your own personal input.
Thank you for watching,
Scotty
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https://www.youtube.com/watch?v=sBIWuixDfuY