Comments by "Harry Mills" (@harrymills2770) on "5 Socialism Myths: Part 1" video.

  1. I would argue that ALL economic systems are capitalist. Even the socialists invest capital in hopes of a return. The DIFFERENCE is Free-Market economics versus Command economics. In free-market capitalism, the PEOPLE control the capital, individually, to do with as they see fit In a command economy, the state controls the capital and does with it as power-seeking government officials see fit. One "brand" of bread. One brand of car. ... And, because there's no profit for the individuals for coming up with new ideas, command economies always fall behind free-market economies in technology. This is why Communist China and the Soviet Union were MUCH better at stealing technology than they were at creating it.
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  2. This is why Obama and other top Dems say "You Republicans think there's a magic wand to fix the economy." It's because they can't imagine every smallest detail and adjustment to changing conditions that the free market does, automatically, being possible without a Democrat with a magic wand ordering everything to be the way they want. Free-market economics is not a magic wand. It's that there's a real incentive and a real return for doing things better. It's the democrats who believe in fairy tales when it comes to the economy and socialism.
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