A Left Turn?

With Republicans losing elections everywhere, and with Obama ascendent, people are reflecting on the significance of moving toward a more socialist government. Paul Hoffmeister, a good capitalist, appreciates that such a leftward move is not always necessarily a bad thing:

Drawing from the late political economist Jude Wanniski, this competition between capitalist and socialist economic systems is nothing new or surprising, and is as old as representative democracy itself. Voters are constantly declaring their preference between the two. Simply put, when good capitalism goes bad, voters choose good socialism. One must accept that while good capitalism is superior to the best socialism, good socialism can be better than really bad capitalism.

It helps to keep the Republicans and the fat cats a little honest. If the market and conservative governance gets corrupted, a leftist correction may be in order.

A Left Turn?

With Republicans losing elections everywhere, and with Obama ascendent, people are reflecting on the significance of moving toward a more socialist government. Paul Hoffmeister, a good capitalist, appreciates that such a leftward move is not always necessarily a bad thing:

Drawing from the late political economist Jude Wanniski, this competition between capitalist and socialist economic systems is nothing new or surprising, and is as old as representative democracy itself. Voters are constantly declaring their preference between the two. Simply put, when good capitalism goes bad, voters choose good socialism. One must accept that while good capitalism is superior to the best socialism, good socialism can be better than really bad capitalism.

It helps to keep the Republicans and the fat cats a little honest. If the market and conservative governance gets corrupted, a leftist correction may be in order.