October 27, 2006

Resisting Socialism, Then and Now

By R.E. Smith Jr.
Socialists often argue that workers should receive more wages and benefits than they can earn in a competitive market. At the same time they blame capitalists — people who take the business risks, provide jobs and invest in their enterprises — for profiting unjustly. Collectivists indignantly demand that business people share more of their private property with employees. Paul Krugman, Princeton economcit and columnist for the New York Times, fashions ($link — enriching his capitalist employer, whose profits have been tumbling of late) a catchy phrase, the  "war against wages."   Krugman principally attacks Wal—Mart, the left's favorite business target since Enron disappeared from the scene. Wal—mart has committed no massive frauds, and has created over a million jobs, often sought by thousands of would—be employees when it opens a new store. Not to mention its enormous contribution to public welfare by...(Read Full Article)