Sunday, October 18, 2015

Economic systems

There are three economic systems* in the world:

Socialism - Fascism - Capitalism

On the left, we have socialism, which means the State owns and controls the means of production.
The extreme form of socialism is communism, socialists who force compliance at the point of a gun.

On the right is capitalism, in which the private sector owns and controls the means of production.

In the middle is fascism, where the private sector owns and the State controls the means of production.
The United States is usually thought of as a capitalist nation. Yet, since the 1930's we have had fascism on the farm.
The U. S. Department of Agriculture has told farmers how much of certain commodities they could grow. Many acres were put into the the soil bank in the 1950's. This provided farmers income for not growing certain commodities.

In more recent times, the Federal Government "invested" in General Motors and Chrysler, with a naturally associated element of control.

With all the regulations we live under now, e.g. toilet tank capacity, light bulb type, we are far from a purely capitalist society.

Now, Bernie Sanders has taken the lead in wanting to move us far to the left, with most of the other Democratic candidates running to keep up with him.

Note to Bernie: It has failed wherever it has been practiced.

*Courtesy of Neal Boortz, radio commentary circa November 2008

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