COLUMN
Is Any Government
Agency Efficient?
By MIKE ZAGATA • View From West Davenport
When Bernie Sanders starts a sentence by saying “The truth on this matter is,” it’s time to reach for your wallet to see if it’s still there. He’s not alone in that regard, as there are lots of candidates trying to sell us on the virtues of socialism. To learn how socialism has affected you, read the last three paragraphs.
The major differences between socialism and capitalism can be defined by the role of the government. In general, capitalism affords economic freedom, consumer choice and economic growth. On the other hand, socialism, which is an economy controlled by the state and planned by a central planning authority, provides for a greater social welfare and is expected to decrease the business fluctuations likely to occur in a free market.
Capitalism is a market-based economy made up of buyers (people) and sellers (private or corporate-owned companies). The goods and services that are produced are intended to make a profit, and this profit is reinvested back into the economy.
The U.S. is considered to be a capitalist economy, along with most of the modern world. Economists, however, are quick to point out that almost every society has a socialist aspect or program within it, i.e. Social Security.
