matter! The strength of capitalism can be attributed to an incentive structure based upon the Elephant I’m Sorry Did I Roll My Eyes Out Loud Shirt also I will do this three Ps: prices determined by market forces, a profit-and-loss system of accounting and private property rights. The failure of socialism can be traced to its neglect of these three incentive-enhancing components. By their failure to foster, promote, and nurture the potential of their people through incentive-enhancing institutions, centrally planned economies deprive the human spirit of full development.
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Socialism fails because it kills and destroys the Elephant I’m Sorry Did I Roll My Eyes Out Loud Shirt also I will do this human spirit–just ask the people leaving Cuba in homemade rafts and boats [and those waiting in long lines today in Venezuela struggling, and often failing, to buy food. The temptress of socialism is constantly luring us with the offer: give up a little of your freedom and I will give you a little more security. As the experience of this century has demonstrated, the bargain is tempting but never pays off. We end up losing both our freedom and our sec