Daily Article
Thursday, August 28, 2008
by
George Reisman
What Barack Obama and Hugo Chavez have in common is the conviction that prosperity can be achieved by consuming the means of production, but capital accumulation and economic progress depend on saving and innovation and that these in turn depend on the freedom to make high profits and accumulate great wealth. The impediment that stands in the way of people recognizing that everyone benefits from tax cuts for the "rich" is the collectivistic habits of thought inspired by Marxism and its doctrine of class interest.
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