This is an age old argument, or seems to be, capitalism versus socialism. The truth of the matter might be that no extreme of either economic system is probably a good idea.

Pure capitalism means no regulations, rampant abuse of workers, peonage, serfdom, slavery, pollution, etc.

Pure socialism means no competition and therefore less innovation, etc etc etc.

Our system in the U.S. has always been a combination of the two. What we've been doing is trying to find the right balance.

Maybe our ability to shift that balance, as needed, is what allows the system the flexibility to adapt and perpetuate itself. Whenever business needs a boost, capitalism is unregulated and set loose. Whenever the public needs a boost, socialism is instituted to bridge them through the tougher times.


Some things have to be socialized, like the public ownership of roads and bridges. Other things must be privatized, like home ownership. So we need to strike the right balance, not swing to extremes.