What we have at present is a system of loss socialism. Whatever goes wrong is shouldered by the general public and anything that works is privatised. Worshippers of market freedom have suspended the most important economic principle: Risk and liability go hand in hand.
A further point is that, little by little, in the current universe, everything is slowly being named; nor does this have anything to do with the older Aristotelian universals in which the idea of a chair subsumes all its individual manifestations.