Quote of the day–John Kenneth Galbraith

Under capitalism, man exploits man. Under Communism, it’s just the opposite.


John Kenneth Galbraith
[While true this overlooks the net result of the people living under the two different systems. Under capitalism there exists a wider disparity between the richest and the poorest. But the poorest of the poor is no worse off than if they were living under a communist regime. And the average person is far, far better off living in a capitalist system. But many people don’t make it this far in the logic chain. Their is a strong tendency to stop after reaching the point about there being a wide disparity between the richest and poorest. As near as I can determine their is a belief that this is “not fair”. Pointing out to them that “life is not fair” does not remedy the situation. Apparently there is some deep seated belief that things can be made to be “fair”. I think the problem must be attacked at a lower level–that is the definition of “fair”. It is not “fair” that the government should take (at the point of a gun) the property and/or services of one and give it to another. That “unfairness” can only be reduced by reducing the size of government and the taxes paid.


I’m reminded of this quote by Phil who posted about Arianna Huffington saying Capitalism should be as dead as Communism. I’m tempted to say something comparing the status the brains of both Huffington and Marx but most people should be able to draw the obvious conclusion without me leading them there.–Joe]

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