Fresh Open Thread - [Niedermeyers Dead Horse] | Main | No Longer Tropical Storm Erika, now Invest 90
August 29, 2015

The Cost Of Capitalism vs. Socialism [CBD]

CoyoteBlog writes, I Have This Argument All The Time With The US Forest Service , but it could be with any government agency doing....anything. The pull quote is marvelous, and one that, while we as obsessed conservatives have internalized, is not common knowledge among those who aren't quite as rabid about political philosophy.

from page 114 of the 5th edition (2015) of Thomas Sowell's Basic Economics :

While capitalism has a visible cost -- profit -- that does not exist under socialism, socialism has an invisible cost -- inefficiency -- that gets weeded out by losses and bankruptcy under capitalism. The fact that most goods are more widely affordable in a capitalist economy implies that profit is less costly than inefficiency. Put differently, profit is a price paid for efficiency.


digg this
posted by Open Blogger at 06:15 PM

| Access Comments




Recent Comments
Vic[i]: "486  Don't they have a "Forgot your password? ..."

JT: "The help guy said they were moved to a different a ..."

Vic[i]: "I lost all that shit trying to download a book I p ..."

Vic[i]: "482 479 vic are they not still in your Amazon ..."

rhennigantx: "No PDT has a wage on Minimum wages percentage o ..."

rhennigantx: "479 vic are they not still in your Amazon accou ..."

m: "477 Trying to get it where it only prints my name ..."

Village Idiot's Apprentice [/i]: ""475 VIA is this transmission correct? ... ..."

Vic[i]: "I have not been having much luck with computer cra ..."

rhennigantx: "475 VIA is this transmission correct? ... . ..."

Vic[i]: "476  WTF O Posted by: rhennigantx at July ..."

rhennigantx: "474 test Posted by: Vic at July 23, 2019 06:32 AM ..."

Recent Entries
Search


Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64