Socialism and Free Enterprise On Trial

I didn’t know that there is an election going on in Chile. But there is, and observers say that the Left is favored to retake control of that country, which has seen unprecedented prosperity since it adopted free enterprise policies beginning in the 1980s. Dan Mitchell has the story.

Most notable is this animation, which shows the opposite paths taken in recent decades by Chile and Venezuela, formerly one of the world’s richest countries. There couldn’t be a clearer demonstration of the contrast between free enterprise and socialism as a source of human well-being:

The idea that socialists may win in Chile is bad enough, but here in the U.S. the Democratic Party, which currently controls the presidency, the House and the Senate, also wants to take us down the Venezuelan path of socialism.

Dan Mitchell’s site features this quote from the late Walter Williams:

Capitalism is relatively new in human history. Prior to capitalism, the way people amassed great wealth was by looting, plundering, and enslaving their fellow man. Capitalism made it possible to become wealthy by serving your fellow man.

But most liberals lack the skills necessary to prosper by serving others, so they prefer the old-fashioned route of plunder. And, as in Venezuela, printing money and pretending that it represents wealth.

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