Post by ZETAR on Oct 6, 2019 16:59:01 GMT
JIM JONES
Capitalism. It is argued that the profit incentive encourages firms to be more efficient, cut costs and innovate new products that people want. If firms fail to keep up, they will go out of business. But, this business failure allows resources to flow to new more efficient areas of the economy. Something known as ‘creative destruction’
www.economicshelp.org/blog/glossary/capitalism-v-socialism/
Socialism. It is argued that state ownership often leads to inefficiency because workers and managers lack any real incentive to cut costs.
One joke under Soviet Communism was ‘They pretend to pay us. We pretend to work.’
SHALOM...Z
EDIT TO ADD:
“I didn’t leave the Democratic party, the Democratic Party left me.” ― Ronald Reagan
Capitalism. It is argued that the profit incentive encourages firms to be more efficient, cut costs and innovate new products that people want. If firms fail to keep up, they will go out of business. But, this business failure allows resources to flow to new more efficient areas of the economy. Something known as ‘creative destruction’
www.economicshelp.org/blog/glossary/capitalism-v-socialism/
Socialism. It is argued that state ownership often leads to inefficiency because workers and managers lack any real incentive to cut costs.
One joke under Soviet Communism was ‘They pretend to pay us. We pretend to work.’
SHALOM...Z
EDIT TO ADD:
“I didn’t leave the Democratic party, the Democratic Party left me.” ― Ronald Reagan