Too often a false contrast is made between the impersonal marketplace and the compassionate policies of various government programs. But both systems face the same scarcity of resources and both systems make choices within the constraints of that scarcity. The difference is that one system involves each individual making choices for himself or herself, while the other system involves a smaller number of people making choices for others.
Simply put: Capitalism is each individual making choices for himself. Socialism is those who claim to know best, making your choices for you. The former is freedom. The latter is anything but.
I like this comment, too.
Capitalism is mankind’s first best attempt at a paradigm other than plunder and pillage. It is, at its best the willing exchange between two parties on mutually agreed upon terms.
Socialism is saying, we don’t think you need or deserve what you have, there being more of us than there are of you, we will take from you what we wish.
It is a return to the pillage and plunder paradigm
Exhibit A in the Plunder and Pillage Paradigm: The US Congress.
- Taking over entire industries at whim.
- Confiscating people’s legally contracted earnings.
- Setting to pay scales for all employees within an industry.