Lemon-socialism Definition


The practice in otherwise free market capitalist economies in which the government steps in to bailout or otherwise subsidize weak or failing firms. A government attempting to transition from capitalism to socialism by this method takes control of the worst industries — the "lemons" — first, which undermines such an approach.


Origin of Lemon-socialism

  • Coined by Mark Green in 1974 .

    From Wiktionary

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