We often think of capitalism and socialism as existing on a spectrum from most capitalist to most socialist. I have said that tyranny resides at both extremes and maximum liberty near the middle.
I wonder if a better image would be a circle with maximum tyranny and maximum liberty at six and twelve o'clock, and with ordinary socialism and ordinary capitalism at three and nine o'clock. The more extreme the capitalist system, the more extreme the socialist system, the closer each system moves toward tyranny. The more capitalism and socialism balance the greater the liberty people have. In such a balanced system the capitalists are free to innovate and profit but are tempered by environmental and human rights protections and protections against extreme wealth concentration.
I wonder if a better image would be a circle with maximum tyranny and maximum liberty at six and twelve o'clock, and with ordinary socialism and ordinary capitalism at three and nine o'clock. The more extreme the capitalist system, the more extreme the socialist system, the closer each system moves toward tyranny. The more capitalism and socialism balance the greater the liberty people have. In such a balanced system the capitalists are free to innovate and profit but are tempered by environmental and human rights protections and protections against extreme wealth concentration.
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