Over the years here I have been called a “lefty communist” and a “watermelon” (green outside, red inside); been told I live in a cave, and that “as a worm” I would “do an admirable job” (John Fricker, 2019); and most recently Peter Jones responded to a column of mine by saying, “I note we just voted against communism. Lol.”
I assure Peter and others that no communist candidates stood in the recent general election. However, some would undoubtedly be socialists.
I explain: capitalism is based on individual initiative and favours market mechanisms over government intervention, while socialism is based on government planning and limitations on private control of resources. Few countries today are purely one or the other.
In the United States, capitalism has always been the prevailing system. It is defined as an economic system in which private individuals or businesses, rather than the government, own and control the factors of production, entrepreneurship, capital goods, and natural resources. Capitalism is viewed positively by about two-thirds of Americans. American Republicans see socialism as government control, and put socialism and communism in the same slot.
During the Cold War, communism was feared by capitalists here and in other Western countries — the so-called “reds under the bed” was often used by Labour’s opposition.