Monday, August 15, 2011
What ever happened to real capitalism?
History pretty clearly shows that allowing decisions to be made by economics rather than politics produces greater levels of wealth. In small doses (e.g. western Europe) the substitution of politics for economics produces lethargy. In large doses (e.g. USSR, Cuba, N Korea, Zimbabwe) it produces convulsions. Trouble is, there are always politicians whose livelihoods rest on convincing people that THEY can overcome the odds and succeed where no one else has. Free markets simply are better than the wisdom of any group of individuals at directing capital to its highest economic use.
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