2min chapter

Debunking Economics - the podcast cover image

Not all contrarians are the same

Debunking Economics - the podcast

CHAPTER

Socialism Is a Bit of a Rubber Rubber Band

Traditional economists lump all socialists and communists together. But they're not the same thing, says Steve Jobs. socialism per se would mean no more profit motive or state ownership of industry. And thatw when you look at its competitive success against america,. capitalism was a failure. It didn't succeed.

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