Too Good to be True

I recommend reading this post at Carpe Diem blog on Why socialism always fails.

This is particularly well-said:

The strength of capitalism can be attributed to an incentive structure based upon the three Ps: (1) prices determined by market forces, (2) a profit-and-loss system of accounting and (3) private property rights. The failure of socialism can be traced to its neglect of these three incentive-enhancing components.

And this:

The main difference between capitalism and socialism is this: Capitalism works.

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