Dear Dr. Boli: Can you explain to me the difference between socialism and capitalism? —Sincerely, An Economist, but Apparently Not a Very Good One.
Dear Sir or Madam: Socialism assumes that human beings are likely to be evil, and therefore private business cannot be trusted with the economic welfare of the people. Capitalism assumes that human beings are likely to be evil, and therefore government cannot be trusted with the economic welfare of the people. Dr. Boli believes that each of the two systems is just about half right.
March 28th, 2012 | 6:09 pm | #1
Capitalism is the system where Man oppresses Man. Socialism is the precise reverse.
April 16th, 2012 | 2:44 pm | #2
Nonsense! Socialism is a class of systems wherein those who are ignorant of the facts on the ground aspire to conceal that ignorance via occasionally successful attempts to oppress the general public. Capitalism is a class of systems wherein those who know something of what is currently going on, aspire to conceal that knowledge in typically fruitless attempts to defraud the general public.
Corporatism, of course, represents another class of hybrid systems wherein those who don’t know what they’re doing conspire with those who know what’s going on to cooperate in simultaneously oppressing and defrauding the general public.
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