By David R. Young, author of The Political Spectrum: Freedom vs. Enslavement
“Gentlemen, … You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.” – Andrew Jackson
The argument about capitalism and socialism is a deception. It’s the Free Market that is under attack.
Capitalism is the investment of wealth to increase production and profits of an industry, in order to obtain a return on that investment. The capitalist does not actually work to earn his profit.
If you think the mechanisms of socialism are any different, you might take another look. The only difference between these two systems is who is investing and obtaining a portion of the profit produced by the Free Market System.
In a free society, any individual may gain the benefits of self-determined participation and production. But in socialism the individual is a fixed cog in a slavish machine; and only the slave master benefits.
In a society based on individual freedoms, the basic economic system is known as the Free Market System. Such a society can generate an abundance of wealth for those who participate and results in creativity through incentive, research and discovery.
Such groups as Ford Motor Company, Apple and Google are stellar examples of the free market at work. The success of these companies is, in no small part, due to the private investor, or contributing capitalist.
But, socialism looks much different from capitalism. How can they be the same system? (more…)
