Reply to "Politically Incorrect VI"

"At the heart of the difference between capitalism and socialism is a question about the calculation of economic value. In a free-market economy, economic values are established economically; that is, a product is worth what you can sell it for on the marketplace... Socialism breaks with capitalism on precisely this issue. It seeks to infuse the fundamental, deep processes of the economy - the setting of prices - with moral meaning. Indeed, normative, moralistic methods for calculating economic values have obsessed socialists and other utopian thinkers for over a century. It is one of history's great ironies that capitalists built decent and humane societies on the basis of an amoral approach to the economics of pricing, whereas socialists built exploitative and inhumane societies on the basis of a morally inflamed approach to economics."
-Kevin D. Williamson
The Politically Incorrect Guide to Socialism
×
×
×
×