Socialism never works as well as private enterprise - what's the reason? Simple. When you spend your own money, the average person is careful not to spend it unless he has to. Government spending always considers political effects. Political effects trump economic effects.
There are spectacular examples. China under Mao-style Socialism was a basket case. China is still run by the Communist party, however profit motive had been reintroduced. Venezuela is a country rich in oil. Ever since Chavez took the country Socialist, it has had worsening economic conditions. There is a shortage of everything, including toilet paper. How about the Scandinavian countries you say? The Scandinavians have short periods of sanity, which ensure that their economies do not go off the rail.
Are we then to live by the law of the jungle? Not at all. The Man said that you are to treat others as you wish to be treated yourselves. A simple concept. Just not easy to follow. But, the more this is applied the better off everybody is.
Sunday, May 21, 2017
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