To: Wharf Rat who wrote (144822 ) 8/1/2014 7:15:27 AM From: RetiredNow 1 RecommendationRecommended By
Read Replies (2) | Respond to Wow. I agree with you 100% about Cuba and the US boycott. That's just bad politics. However, socialism has always in history been inferior to Capitalism in growing an economy's total wealth and minimizing the rich/poor divide. The US once was known for a massive and vibrant middle class. That was Capitalism at work. However, we aren't really Capitalist anymore. Rather, our government centrally plans our economy in many ways and that has directly lead to a decreasing ability for our economy to meet our expectations. The reason is a very simple one. Governments always manage and allocate money less efficiently than millions of individual's serving their own economic interests. Economies under Capitalism do best when Government play the proper role of leveling the playing field, enforcing strong and effective regulations and laws (especially around property rights), and minimize corruption and cronyism. Unfortunately, in the US, we have a thoroughly corrupted Capitalism that is skewed towards financial institutions, a centrally planned economy through the Fed that thoroughly distorts the pricing of risk, and a massive amount of socialism. Put all together, it has left our economy in very slow growth mode and a yawning rich/poor divide. Most now blame that on Capitalism, when the simpler truth is that it is creeping Socialism and flat out corruption that is killing our economy.
