We don't have an economic theory. We do have these two apothegmatic laws. They are based on our observations of the pragmatic development of the State of Israel over the past 60 years and they go like this.
- Be a socialist when your society does not have large pools of excess capital.
- Be a capitalist when your society does have large pools of excess capital.
And if you are some kind of kooky philosopher and want to know which way is better, consider this wisdom that I first heard from Marshall, my old friend in Minnesota.
"Capitalism is the system wherein man exploits his fellow man.
"In socialism, it is the other way around."
And now that large pools of excess capital are drying up all around us, we expect to see more of socialism.
No comments:
Post a Comment