New capitalism refers to the capitalist model that the western world found itself in after the 2008 financial collapse that resulted in the world wide economic downturn.
It specifically enshrines phrases such as corporate welfare or corporate socialism along with too-big-to-fail, bonus culture, special interest groups, powerful lobbies, and failed free market.
New capitalism basicly means the model in which money (usually from tax-payers) is thrown at crisis after crisis to keep a flawed, unregulated capitalist system alive. In a new capitalist model it has become easier to make money with other people's money, instead of actually making and selling stuff.
1. So let me get this straight. All the big bailed-out banks in the U.S. can borrow money from the state at zero interest, which they then lend out again to the government in order to finance the deficit created by that bail-out. And the government has to pay interest on those loans? I hate this new capitalist society.
2. So this new capitalism means that the taxpayer has to bleed, in order to help failing companies which can no longer sell their stuff, because the taxpayer has no more money?
Prices shown in USD.
Type your email address below to get our free Urban Word of the Day every morning!
Emails are sent from firstname.lastname@example.org. We'll never spam you.