This doesn't even make sense. Poverty is a relative term. Poverty requires wealth.
Anyway what little meager juice that these ideological labels had after the cold war is now gone with china as king of the hill.
We can all agree private investment = rapid growth, and state intervention both in terms of social safety nets and actively ensuring fair competition (where that is necessary—banking, anti-trust, food/med production, etc) = stabler economies (or we agreed on this for a few decades after the great depression anyway). It's what the point of the economy is—to serve the disproportionate interests of rich or the collective (one might even say... democratic) interests of people—where there remains substantive disagreement. I hope we can leave this farce behind that how we talk about ideology has any relation to how the terms were actually defined in lieu or acknowledging material reality for a change.
Anyway what little meager juice that these ideological labels had after the cold war is now gone with china as king of the hill. We can all agree private investment = rapid growth, and state intervention both in terms of social safety nets and actively ensuring fair competition (where that is necessary—banking, anti-trust, food/med production, etc) = stabler economies (or we agreed on this for a few decades after the great depression anyway). It's what the point of the economy is—to serve the disproportionate interests of rich or the collective (one might even say... democratic) interests of people—where there remains substantive disagreement. I hope we can leave this farce behind that how we talk about ideology has any relation to how the terms were actually defined in lieu or acknowledging material reality for a change.