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How to get rid of a bad idea (democratic socialism)

“Avoid investing in countries with high levels of socialist or governmental regulation of business. Business growth depends on a solid free enterprise system. " Sir John Templeton (cited in "Wall Street Highs," P. 137)

The great Austrian economist Ludwig von Mises (1881-1973) he was once asked: "What is the difference between socialism and capitalism?"

He replied: "The stock market." Countries that adopt high levels of socialism and government intervention see their stock markets languish or even disappear.

When the communists take control of a country, the first thing they do is close the stock market. When Vladimir Lenin and the Bolsheviks seized Russia in 1917, closed the St. Petersburg stock exchange and turned it into an art museum.

There is no stock market in Cuba or Venezuela.

Similarly, countries that have nationalized their main industries will soon see their stock markets disappear. For more than 50 years, the Buenos Aires Stock Exchange languished due to Juan Perón and the Peronist Takeover of Argentina.

Argentina could not create the Argentine stock index MERVAL until 1986. Even then, it had a lower yield than the world markets until 2014.

Democratic socialism gains support in the United States

Since the financial collapse of 2008, the appeal of socialism has advanced in the West, even in the United States. Witness the Occupy Wall Street movement, the popularity of socialism on university campuses and Democratic presidential candidates who support state intervention in the economy.

Howard Schultz, the CEO of Starbucks for a long time, is considered a "progressive" and has been a lifelong democrat. However, recently he felt so disgusted with the leadership of the Democratic Party movement towards absolute socialism that he left the party to consider running for president as an Independent.

Nor is he happy with the current crop of Democratic candidates, who are falling over each other to see which one can promise more "free" gifts from the government and more murderous regulations that could destroy the American way of life.

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She asked, “When I hear that they defend the free university paid by the government, the free medical care paid by the government and a free government job for everyone, in addition to a $ 21 billion debt, the question is, how are we paying for all this and not bankrupt to the country?

A better idea: democratic capitalism!

You can't get rid of a bad idea just by opposing it. You have to offer a better alternative.

And that alternative is "Democratic capitalism!"

Democratic socialism is sharing poverty. Democratic capitalism is sharing wealth, not through confiscatory progressive taxes, but voluntarily through an enlightened philosophy of stakeholders.

John mackey, CEO of Whole Foods Market, calls it "conscious capitalism" and has stated that it is a capitalist philosophy that can benefit both workers and executives.

The history of Ford $ 5 per day

The father of democratic capitalism is Henry Ford. In 1914, the Ford Motor Company made record profits from its Model T manufacturing plant in Highland Park, Michigan (just outside Detroit).

Ford made the dramatic announcement in January 1914 that he was more than doubling his workers' wages to $ 5 per day. Investors and labor would benefit from the success of the company. It was a revolutionary decision that made headlines across the country.

This week, I am in Michigan. Yesterday, I visited the original Ford plant where more than one million Model Ts were built yesterday. (View photo). I wanted to pay tribute to the man who changed the world in terms of labor relations to improve. That is, Henry Ford destroyed the Marxist notion that capital and labor were enemies and that capitalism exploits the worker.

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Mark Skousen stands in front of the site of the original Ford plant in Highland Park, Michigan.

Tonight i'm talking on Hillsdale College in "How to get rid of a bad idea (democratic socialism): with a better idea: democratic capitalism!" I will have a full report on the reaction of the students on Monday Forecasts and strategies direct line

If more companies provide incentives to workers through participation in benefits and stock options, democratic socialism will lose its appeal.

Long live democratic capitalism!

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Good investment, AEIOU,

Mark Skousen

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Source: https://www.stockinvestor.com/44201/how-to-get-rid-of-a-bad-idea-democratic-socialism/

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