Wednesday, March 28, 2018

Capitalism, Socialism, and Wealth

"Look, what does a capitalist do? Let me ask you that, Mike. Huh? Tell me. I mean, what does he make, besides money? I don't know what he makes. The workers do all the work, don't they?"
--John Reed (Reds)

Not a bad sketch of socialists tend to view, or at least how they like to discuss, the two systems of economic organizing. The important feature of capitalism is that the rising tide of productivity improvement lifts all boats.


The only change I might make involves the upper right quadrant. With socialism, there is likely to be a large disparity of wealth between rich and poor. There may be less rich people, but those who are live high above the squalor of the masses.

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