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Wednesday, January 24, 2018

Intentions Don’t Matter — Outcomes Do

In the ongoing battle of ideology between capitalism and socialism, what do the outcomes say?

Socialism is, whether we like it or not, in the national dialogue. And there are numerous people who claim to be socialists who, nevertheless, have a hard time defining what socialism actually is. Socialism, in its purest form, indeed, has never been tried. But, by the same token, neither has undiluted capitalism. To understand which works better, we have to think about means and ends. Almost all of us want the same ends, but we disagree sharply as to the appropriate means. So how do we find the most efficient, humane means? Join Antony Davies and James Harrigan as they talk about this and more on this week’s episode of Words and Numbers.

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Quick hits

Sweden could launch its own cryptocurrency

People believe that companies make five times more profit than they actually do

Foolishness of the Week

Topic of the Week: Socialism

US News: Celebrate American Women’s Economic Freedom

Wall Street Journal: For Gender Equality, You Can’t Beat Capitalism

US News: We Need to Find the Right Mix of Government and Markets

Antony Davies: Equality, Liberty, Prosperity


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  • Dr. Antony Davies is an Associate professor of Economics at Duquesne University, and co-host of the podcast, Words & Numbers.

  • James R. Harrigan is a Senior Editor at the American Institute for Economic Research. He is also co-host of the Words & Numbers podcast.