The American Heritage Dictionary defines socialism as; any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
AHD defines capitalism as; An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market.
I swear I have to stop watching the news during the political season
Thursday, February 5, 2009
Private Client Commentary - win fall profits tax