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Showing posts with the label socialism

President Obama's Supreme Court Nominee

      President Obama has nominated his second Supreme Court Justice, Elena Kagan. Already a minor feeding frenzy has started. If she has ever had so much as a traffic ticket it will come out in the next few weeks. And like living in a small town, if they can’t find anything bad to say about her, they’ll make something up.       Since she has never had judicial experience, there is no way to look back and evaluate her decisions, however, as the dean of Harvard Law School, she has published enough articles so that one can get some idea of her approach to the law.       But what she has written has already taken second place to what people prefer to believe she has said. And to make matters even more confusing, as part of her previous positions as counsel to President Clinton, and Solicitor General for President Obama, she has had to defend some positions that do not necessarily agree with her written positions. ...

Capitalism And Socialism

      Capitalism: An economic system in which investment in and ownership of the means of production, distribution, and exchange of wealth is made and maintained chiefly by private individuals or corporations, esp. as contrasted to cooperatively or state-owned means of wealth.*       The basic idea underlying a capitalistic system is that of individual ownership and control of the assets of commerce. Using one’s innate abilities, energy, ideas, etc. to better oneself is the driving force, and success or failure is measured by the bottom line. The “rugged individual” and the “small entrepreneur” are the natural heroes. Individual freedom is paramount.       Unfortunately, unbridled incentive can lead to unbridled greed, which if followed far enough, can bring down the system. Let me give you an example:       When you buy a life insurance policy, you are buying a contract under which t...