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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: Hawkmoon who wrote (108808)2/23/2010 7:56:20 PM
From: skinowski5 Recommendations  Read Replies (2) of 116555
 
as one of my old PoliSci professors shrewdly observed about Capitalism and Socialism, they both share the common attribute of exploiting the masses to obtain that control. It's only a matter of which path they take to achieve the same goal.. control over the means of production, and thereby, the people.

This may sound cute, but in reality it ignores great differences. Let's just say that as a capitalist and a business owner you are interested in your rights being protected and respected. By the same token, you will want the same for your children - and everyone else. Capitalism is simply not possible without due process and individual rights and freedoms.

As a Socialist / Marxist, you have no such concerns. Presumably, everything is owned by the "people". In reality, you have a gang of political hacks on top - and a population which is entirely at their mercy. In one extreme case, such "mercies" were amply described by Solzhenitsyn in his Gulag saga. "Success" is measured by - and depends upon - the political pull.

I know nothing about your "old professor", but, with all respect, it appears to me that he either missed or intentionally fuzzed up some crucial differences.

PS - my wife was a college student in the 60's... she read the post and thinks that she may have had the very same "old professor"... :)
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