Plymouth Rock: Socialism’s Failure, Capitalism’s Success

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A not-often touted fact of the story of the pilgrims has implications for our day. The short version of this story is that the pilgrims arrived, set up their ideal society based on socialist principles, and soon discovered it to be a complete failure and began to starve to death. Then they abandoned socialism and adopted capitalism, and had so much extra food that they shared freely what they had with themselves and the Indians.

More at Power Line Blog.

Of course, this has several lessons for our day.

  1. The only economic system that produces wealth is Capitalism. All other systems destroy wealth.
  2. Once rich, people are more than happy sharing the wealth, voluntarily.

In the United States, our economic goal should be to make as many people as possible as insanely wealthy as possible. If we had a hundred million billionaires, then the remaining two thirds of our society wouldn’t lack for work or food or nice houses or fancy sports cars, even though they may only earn a tiny fraction of a billion dollars. The disparity between the rich and poor would be enormous, but the poorest in our society would have a better life than the richest in our society do today.

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