In any compromise between good and evil, it is only evil that can profit.
Abstract– Political scientists have coined a variety of ideologically slanted terms to designate the “middle way” between the market and the command economy, including neofascism, the affirmative democratic state, and corporate liberalism. A more straightforward approach to classifying a political-economic system is by the way it treats property ownership (public vs. private) and control (public vs. private).
A fourfold political-economic classification system emerges from the dimensions of property ownership (private versus public) and control (private versus public). Capitalism is the system in which ownership and control are largely private, socialism the system in which they are largely public. The system that emerged in most Western states beginning in the late nineteenth century was one in which the ownership of the means of production was nominally private, but their control was increasingly in the hands of public officials. Feudalism, when added to this three-way taxonomy, appears as a fourth arrangement, in which the means of production are nominally public, but the actual use of productive property is largely private.
The most neutral description for the system of nominally private ownership and public control is “the third way” between capitalism and socialism. Many authors, however, have proffered far more descriptive names based on their ideological beliefs about the nature and workings of “third-way” systems. Those who believe in laissezfaire capitalism tend to coin terms stressing the negative effects resulting from the public control of productive property, for example, the hampered market and neofascism. Those who reject capitalism occasionally employ terms that connote the benefits of regulation, such as the positive state and the affirmative democratic state. Yet others, believing that third-way systems are typically captured by commercial interests who exploit them for their own gain, coin terms that emphasize a negative reading of that situation, such as corporate statism and corporate liberalism.