Investor’s eye on socialism shows why it never works
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by George P. Schwartz,
When it comes to capitalism vs. socialism, anyone with common sense knows socialism doesn’t work. Wherever it’s been tried worldwide it always hurts the ones it’s supposed to help. Socialism always increases poverty, eliminates incentives, hurts productivity, increases corruption, destroys the economy, and destroys the well-being of its citizens. It’s exasperating to hear these newly minted naïve congresswomen (and men) proposing silly policies, which if implemented, would significantly reduce prosperity for everyone.
Capitalism also creates wealth and philanthropy, both of which result from private-sector success.
One of my favorite quotes from President Ronald Reagan is, “Socialism can only work in two places, heaven where they don’t need it, and hell where they already have it.”
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