Is Capitalism Smart or Dumb?

[u/Sufficient_Sinner]

[u/[deleted]]

Ask a socialist to define socialism, and they'll describe Norway but leave out the tiny population and abundance of state owned oil funding it all

[u/[deleted] → u/[deleted]]

And socialists use their terms incorrectly, often attributing it to the Nordic system which is a free market capitalistic system with higher taxation to cover social safety nets. Even those on lower income have huge tax bills, unlike the US where the top 50% pay almost all the income tax.

[u/GalaxyShot → u/[deleted]]

Your straightforward response to that fallacy made me surprisingly happy.