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Joined: 28 Dec 2005 Posts: 11986
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Posted: Sun Nov 02, 2008 1:22 am Post subject: Socialism & Equality |
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A lower standard of living for everyone in exchange for equality.
Take a look at Western European countries. They've accumulated more wealth, over thousands of years, than the U.S. Yet, they lag badly creating new wealth. Consequently, those European countries have fewer and smaller assets and goods per person. E.U. per capita income is over $10,000 a year less than the U.S., while prices and interest rates are higher. Only one of the world's top ten biotech firms are in Europe (because it bought most of an American biotech, Genentech). Seven of the world's top ten biotechs are in the U.S., while the U.S. leads the rest of the world combined in the Infomation Revolution (in both revenues and profits).
For those who are able to support themselves, they should buy health insurance in the free market rather than buy entertainment systems or illegal drugs. For those who cannot support themselves, then a private or public charitable organization has a moral duty to help them. |
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