Friday, October 31, 2008


Science and SF writer Jerry Pournelle:
Pure capitalism leads to business cycles, in which the low point is generally better (in terms of standard of living) than Socialism (and certainly preferable to Communism, if only because the low points in a business cycle are considerably shorter than the reign of the bureaucrats in either Socialist or Communist states, even if the Communism has a human face, which it seldom does: see the movie The Lives of Others for illustration). As Mr. Chesterton said, the problem with pure capitalism is not that it leads to too many capitalists, but to too few capitalists.
(via Instapundit)

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