Political rhetoric is rampant. The word “liberal” has been equated with socialism, with the implication of association with communist Russia and China, but not Sweden, Germany or Norway. It has been only recently, in the wake of the financial meltdown, that capitalism, which in the minds of many was akin to motherhood and apple pie, has taken some hits.
The truth is that socialism and capitalism are both economic systems that in their purist forms don’t work.
Unchecked socialism can create reduced initiative, creativity and effort. Unchecked capitalism can create monopolies, greed and a complete disregard for the welfare of the public in general, and the most vulnerable specifically. Think Ebenezer Scrooge before his redemption.
We need an approach, and a dialogue, that blends both of these economic systems to extract the best from each, and a balance between the extremes.
