Subject: txt mny sclm - gdd -
Five years ago this week, my former boss William F. Buckley started a column thusly: ''Every ten years I quote the same adage from the late Austrian analyst Willi Schlamm, and I hope that ten years from now someone will remember to quote it in my memory. It goes,
‘The trouble with socialism is socialism. The trouble with capitalism is capitalists.’''
Schlamm’s point is still relevant, even though the kind of socialism we’re dealing with is less doctrinaire. But it also distorts the issue somewhat. One might just as easily say that the problem with socialism is capitalists, too... [snip]
The problem with socialism is socialism, because it is a system based upon an assumption about human nature that simply isn’t true.
And it’s also why the problem with capitalism is capitalists. Some people will always abuse the system and take things too far. Some will do it out of the hubris of intellect. Some will do it out of the venality of greed.
I bring all of this up because many in Washington seem convinced that the solution to the problem with capitalists is always less capitalism.
We are fond of saying that the answer to free-speech problems is more free speech. But we seem incapable of grasping that the solution to capitalism’s problems is usually more fair capitalism....
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