- #36
WheelsRCool
Crosson said:Ownership of the corporations by the American public is tantamount to communism; what you meant to say is that 'various Americans privately own the companies and make the decisions by which they do business.' We could also add that this private group is less than 1% of the general population. Who is the one with "a thin understanding of capitalism?"
The thing to remember is that if the various industries are "publicly" owned, i.e. owned by the government, the people have no votes over who controls what whatsoever. We Americans vote for Congress, the President, etc...we don't control or even pay attention to who runs the FDA, the Department of Education, the Department of Energy, the Department of Agriculture, the Drug Enforcement Agency, and the myriad alphabet soup of various agencies. With government in control, you have a government bureaucracy with a monopoly over each and every industry, with no ability for the public to control who runs what.
And there is no political freedom, because when the government owns everything, there is no economic freedom. Political freedom and economic freedom are intertwined completely. If the government owns everything, they boss the people around. It is a socialist fantasy that the government can own and run each industry, but yet remain a democratically-elected government. The government says, "We are dictators," and the people can't do anything because they own and control nothing.
With a capitalist system and a democratically-elected government, the government agencies that do exist are susceptible to the people if they push the government hard enough, for example when the IRS started threatening so many people, there was such an outcry that Congress started looking into it.
But such a thing cannot happen with a socialist economy, where the government has no fear of getting thrown out of office.
The government also then controls prices and wages, which destroys the economy's ability to ration resources. With the Soviet Union, the corruption in the Soviet government was massive, and the entire economy essentially reverted to a black market economy to function.