Article
What Do "Capitalism" And "Socialism" Really Mean?
What Do "Capitalism" And "Socialism" Really Mean?
Authored by Vincent Cook via Mises Institute,
The old debate between socialism and capitalism is back. It wasn't that long ago when socialist economics had been repudiated even by former Soviet insiders, businesses like Wendy's and Miller ran clever television advertisements poking fun at the once-mighty but by then grossly dysfunctional Soviet Union, and the remaining leftist political parties in Western countries pivoted to focusing on promoting welfare statism while admitting that government controls over the means of production is a losing proposition. Back...
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