By David Robb —— Bio and Archives--January 21, 2024
Roots: Capitalism is an ancient economic system whose origins are lost in the mists of history. It has proven to be robust and reliable in the face of war, famine, natural disasters, and pestilence. It has resisted attempts by tyrants and governments to eliminate it or at least modify it to suit their interests, and has proven itself resistant even to deliberate hostility.
Socialism, on the other hand is a relatively recent innovation. While a form of it existed almost two thousand years ago, at least in the form of sharing of resources, its ideological underpinnings are less than two hundred years old. A form of it was even tried by some of the first settlers in this land—the Pilgrims. The experiment then, as with every other occasion where Socialism has been attempted, was a dismal failure.
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By Cecil Chabot on 2024 01 18
An excellant and accurate differentiation between capitalism and socialism. Capitalism is almost always rejected by its detractors by pointing to an undesirable abuse of that system. Unregulated capitalism does allow certain individuals to extract more than their fair share out of an economy. Corporate executives who extract more than a thousand times the salary of a worker in the company for their share, should not be used as the reason to reject a capitalism system.
Fix the system!
By Chris on 2024 01 18
I prefer the theocracy of the Kingdom of Heaven, which resides in every christian's heart currently, soon to manifested physically on earth.
By Mike Bollinger on 2024 01 18
Cecil Chabot, there has to be a perfect balance between Socialism, and Capitalism. I know anything having to do with Germany and Hitler will be rejected. They built a system that pulled Germany out of debt, built a strong country in a few years. The coming wars were not the result of the financial system. I am attempting to learn what and how they made the miracle. OUTSIDE of Federal Reserve type of banking. The US needs to do the same kind of thing financially. A way forward that encourages Capitalism, but restricts the greed and need to TAKE IT ALL for yourself. Some form of monetary coin and reserve that doesn't rely on debt and indebtedness to people with NO reserves, only the power to print paper.
By News on the Net on 2024 01 19
From a CFP Reader: Mark B.
Mr. Robb's article on Capitalism and Socialism is a keeper
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