Wednesday, July 08, 2015

Communism, Socialism, Capitalism

Since some of my commentators are deeply confused about the differences.

The most obnoxious feature of Communism is that it is totalitarian and repressive. Some other governments are that way too.

The most obnoxious feature of democratic socialism is that it doesn't work. Free riders and other parasitic phenomena make it unworkable.

Capitalism works reasonably well when combined in proper proportions with some state action. Pure capitalism is a crackpot theory which has never been tried and probably won't be.

Economics is confusing, since some officially Communist countries, like China, are mainly capitalistic, and some officially non-Communist countries are mainly Communist, like Russia.