Socialism for the rich and capitalism for the poor information
Political-economic argument
"Socialism for the rich and capitalism for the poor" is a classical political-economic argument asserting that, in advanced capitalist societies, state policies assure that more resources flow to the rich than to the poor, for example in the form of transfer payments.[1]
The term corporate welfare is widely used to describe the bestowal of favorable treatment to big business (particular corporations) by the government. One of the most commonly raised forms of criticism are statements that the capitalist political economy toward large corporations allows them to benefit from government interventions ("lemon socialism").[2] The argument has been raised and cited on many occasions.
Variations of the concept, include "privatize profits and socialize risks" (or "privatize gains and socialize risks") as well as "free markets for the poor while state protection for the rich".
^Friedman, Thomas L. (January 26, 2021). "Made in the U.S.A.: Socialism for the Rich. Capitalism for the Rest". The New York Times. Retrieved January 27, 2021.
^Roubini, Nouriel (November 27, 2007). "Stealth Public Bailout of Countrywide: Privatize profits and socialize losses". Roubini Global Economics. Archived from the original on November 29, 2007. Retrieved May 26, 2020.
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