Walter Williams makes a great point when talking about how well the free market caters to the common man while other types of economic/political systems such as socialism or communism not so much. At least in the free market the average Joe can get at least a little bit of what the rich man has. What in the world is the meaning of that? OK, think about this… If the rich man can own a Mercedes Benz or a Rolls Royce, the poor man can go rent one for a day and still enjoy a bit of what the rich man has. But can the poor man do so in a socialist or communist system? Does the poor man have any freedom to do so? While rich people can often buy or bribe for more “freedom” in a communist system the poor guy cannot. It is why it is much better to be poor in a free market system than in a socialist one. Stefan Molyneux joined us for a great discussion on the case for the free market where he points out that even in a developed economy, if the system does not operate on free market principles, tons of trouble and things could go wrong!
Learning, Sharing, Evolving, Creating - Enhancing the University Experience Together
HET Forum organizes discussions in English on a variety of topics with guests from around the world for local and international students in Taiwan to benefit and better both the regular and international programs at Taiwanese Universities.
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CS – NCUT
Org. Behavior Forum, FCU, IMBA
Future and singularity