Friday, June 17, 2011 | 2:02 a.m.
I have enjoyed reading the letters to the editor that either espouse the virtues of capitalism or suggest that perhaps capitalism has problems of its own.
Socialism is an idealistic system that attracts those who believe in social justice and the unfairness of capitalism. Socialism reminds me of a beautiful woman or man with a very nasty disposition. Seductive, but impossible to live with.
It’s not as if socialism and communism have not been tried. The best example is East and West Germany. Once the Berlin Wall was removed, capitalism was embraced. There is no secret about past outcomes, but fans of socialism think this time will be different and have rebranded the concept as progressive thought.
The United States is well into central planning. Instead of government owning business and industry, government is controlling by regulation.
Take the new health care regulation. Costs will be reduced by limiting pay for services, and services will be limited as needed to balance the books. As physician pay is limited, fewer will enter the field.
As the planners take control of our productive sectors, the potential for gain is reduced as is the incentive for productivity. I read that large businesses have something like $2 trillion available for expansion but won’t do it. I shiver at the thought that government will start replacing their leadership as happened with General Motors. It’s the next step.