The basic idea of socialism is an attractive one; that the whole community should own the natural resources of the country. And that the main means of production, distribution and exchange should be such that no individuals should make fortunes out of the necessities of the people. But how does socialism deal with the competition of private enterprise? By prohibiting it. It is bound to fail and has failed against the eternal impulses both of human nature and economic law. So long as you have individual private property and the right to individual initiative socialism can only succeed by doing the work better.
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