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Politics : Ask Michael Burke
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To: Skeeter Bug who wrote (109876)11/11/2007 12:47:46 PM
From: Freedom Fighter  Read Replies (2) of 132070
 
Skeeter,

I'll elaborate slightly more.

IMO, communism did not fail because of corruption. It probably failed sooner than it should have because of corruption. But the fundamental flaw was socialism. (The Chinese communist power remains in power because of the switch to a partially market based economy) A system that cannot measure profits, return on investment, etc... cannot allocate capital efficiently in order to grow the economy to its potential and meet the needs of the society. That says nothing about the problems associated with motivating people without financial incentives.

Just imagine Warren Buffett sitting in a room trying to make capital allocation decisions without knowing how each company was actually doing. Then picture the average Joe in that job doing it in his central planning office in government.

Some corruption in the private sector is unavoidable. But we are allowed to make rules that govern business. I'm not an anarchist. We are also allowed to make rules that govern what can and what cannot be part of the government. I know less than nothing about constitutional law, but many people feel that a lot of what the government is doing now is not constitutional to begin with. I won't argue the point because I can't. But it didn't have to be this way. We did it to ourselves and can undo it. We need the conditions for it, just as we needed the right conditions to screw ourselves up.
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