. Thinking that government can manage the economy more effectively than the private sector can.
the liberals thinks this because he lacks the IQ to understand capitalism. Lacking the IQ to understand, the liberal turns to faith in govt like a child turns to faith in Santa Claus or religon.
But even there the liberal has faith only if the government is leftwing and politically correct. Look how they can't find ANYTHING in the Bush 43 administration to praise--everything that was done was considered wrong even though in some things he was almost as leftwing as Obama. I disagreed with W on his prescription entitlement, his immigration policy, his Iraq policy, his support of the global warming doctrine, and an energy policy that only a full-fledged flaming left winger could love. But I can also acknowledge what he got right just as I an acknowledge what Obama gets right. But they can't be any kind of objective when it comes to a Republican.
But you are right that they do not understand capitalism. They have been taught certain code words involving the greedy rich, getting rich 'on the backs of the poor', and other key prhases, but most have almost no concept of what any of it really means and they couldn't explain it in their own words, without using assigned talking points, if their lives depended on it.