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You've created a unique definition of capitalism that applies even to state run industries.



No, actually that's roughly the original definition of the word. But then word definitions change over time, and it's now come to be equated with free market capitalism where the capital is privately held. So you're not entirely mistaken in pointed that out.

Then again if we go by the common usage, communism is an entirely useless word, as it has come to mean "whatever china is doing".




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