Socialist Progressives
In reply to the discussion: What does Socialism look like to you? [View all]tama
(9,137 posts)is based on interest/usury leading to exponential growth of fractional fiat monetary systems outside any democratic control, effectively controlling capitalistic states. Socialism as we know it - e.g. Cuba - has it's monetary system under state/party control and it does not by necessity have inherent growth incentive, but of course works within the confines of global capitalism.
It's not really important what to call a system which is not ruled by banks and money creation system based on interest, if you'd wish to call such system some form of capitalism, no problem, but it would not be capitalism as we know it, but closer to socialism as we know it. And it would have much less or even no inherent growth incentive - if it were able to develop sustainable agriculture (as Cuba is doing) and other fields of production.