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Capitalism Rules, Socialism Drools February 15, 2009

Posted by cdquarles in Economics, Philosophy, Science.

Steve McIntyre posted this ClimateAudit.org. After making a comment there and reading the subsequent comments, it became clear to me that this phenomenon explains, profoundly, another reason why the Austrian School of economics works best; and why Ludwig von Mises correctly described why socialism fails as an economic theory. Socialism is a religion, capitalism is not. Equality under God and before the law is the only kind of equality there is. Don’t agree or think so? Check out Shirky’s Power Laws and ponder deeply the linked Andrew Sullivan post as well as commentary for Steve McIntyre’s post.

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