1. A new form of capitalism that emphasizes government intervention in the economy to rescue and restructure large companies that are deemed "too big to fail" because of the systemic risk they pose to the nation.
2. The opposite of Marxism, which anticipates the collapse of the entire capitalist system and the seizure of all "means of production" -- healthy companies included.
3. An economic system that prevents large, poorly managed companies from destroying the entire country.
Obama has been called a "socialist," but historywill show he's really a clever student of "Neocapitalism."
Fogey/fogy /fougi/ sl. (early 18C+, orig. Scot) old-fashioned, stuck-in-the mud.
Person with old fashioned ideas which he is unwilling to change: Come to the disco and stop being such an old fogey!
You think me an old fogeyand an old tory, his thoughtful voice said. I saw three generations since O’Connel’s time. I remember the famine. Do you know that the orange lodges agitated for repeal of the union twenty years before O’Connel did or before the prelates of your communion denounced him as a demagogue? You fenians forget some things. (James Joyce, Ulysses. Penguin Books,1992. p. 38)