A mixed economic system
Letter to the Editor:
Let’s distinguish the difference between capitalism and socialism. Capitalism is an economic system in which investment in and ownership of the means of production, distribution and exchange of wealth is made and maintained by private individuals. Socialism is an economic system in which the production and distribution of goods are controlled substantially by the government rather than by private companies.
The United States is considered to be a capitalistic society. But we live in a mixed society, along with every other society in the world. I don’t think there is a country in the world without police, firefighters, libraries and public roads, the things the citizens demand and the leaders must deliver. These deliveries can only be done through taxation. Therefore socialism is when everybody puts capital in the pool for the benefit of all. The same happens with the state lottery; the results are capitalistic, but the rewards go to the winner.
It’s impossible to be a society of purely private ownership, and the ones that have tried full public ownership have been disasters. The misconception that everyone sees is the comparing socialism to communism. Socialism/communism/collectivism: None of those words are synonymous, and one of them has nothing to do with economics, yet some people refuse to understand the distinction.
Curiously every incident of this country nearly collapsing that doesn’t involve war has been under a clumsy capitalistic system.
I am a progressive Democrat that believes we live in a mixed economic system. But federal and state welfare programs such as cash assistance, health care, food assistance, public housing, Social Security, education spending and many more makes you think of, well, you decide which system they belong to.
Lupe Williams
Wooster