Tuesday, March 13, 2007

Quote of the Day: Socialism vs. Capitalism

"Socialism is an ideology. Capitalism is a natural phenomenon.

Socialism collapsed because it is a policy of unrestrained intervention. It tries to fix what is 'wrong' with the spontaneous, self-organizing phenomenon called capitalism. But, of course, a natural process cannot be 'fixed.' ..."

~Michael Rothschild, author of "Bionomics: The Economy as an Ecosystem" or "Bionomics: The Inevitability of Capitalism"


At 3/14/2007 1:00 PM, Anonymous Ed Kohler said...

I think this overlooks the fact that capitalism doesn't exist either. We're living in times of cronyism rather than capitalism where wealth is generated through government contracts (Halliburton) or government protection (oil companies) or government regulation (telecoms).

At 3/15/2007 10:59 AM, Anonymous Bob Wright said...

Some union bosses are corrupt. Among other illegal activities, union bosses have been caught stealing money from the till [embezzlement]and buying themselves expensive toys while hiding the purchases in their expense account.

Does this mean unions are bad or don't in actuality "exist" because some bosses are looking out for themselves more than their rank-and file membership?

I don't believe the examples you cite are evidence for your claim that capitalism doesn't exist.


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