If you ask an economist about the difference between capitalism and socialism, you’ll probably get a boring answer about the size of government, the impact on incentives, and the power of the state.
Or maybe you’ll get a nit-picking answer, sort of like when I explained that Obama technically isn’t a socialist.
That’s why it’s sometimes best to use simple, common-sense analogies.
Two years ago, I used two cows to explain the differences between various economic systems.
But this image may be an ever more succinct way to showing the difference between capitalism and socialism.
Or, if you prefer stories, this updated version of the fable of the ant and the grasshopper makes the same point.
And here’s the PC version of the Little Red Hen.
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for August 1st, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for July 31st, 2014 | John Ransom
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