A Parable by Jesus and Capitalism versus Socialism Debate

Ted’s letter was published in the August 20, 2015 edition of The Beacon, a weekly newspaper of the Roman Catholic Diocese of Paterson, NJ serving Morris, Sussex, Passaic counties.  The letter:

This is in response to Robert Matrisciano’s 8/6 letter “Capitalism allows Christians to espouse biblical social justice”.   The letter championed capitalism as a more effective means than socialism for social justice,  arguing that individual freedom to utilize ones  ‘treasure’ to benefit others is more effective than collective government policies.

Let us take the capitalism versus socialism argument to another level.  Please reference Matthew 25:14:30 – parable of a master providing three servants with 5, 2, 1 talents respectively, expecting a return.  The first two doubled their talents and were praised whereas the third one did not and was condemned.

Socialist ideology stresses that the Government provides all with cradle to grave entitlements, often with extreme confiscation of wealth in order to redistribute income and thus pay for wide gamut of entitlements, up to the point where the Government may find itself in heavy debt.  Why? This is due to less incentive for one to increase income, thereby decreasing government revenues.  The rise of increasing socialist economics in the US has created an ever increasing Dependency on Government class that feels entitled, to an extent, even to non essential, even immoral  ‘entitlements’ such as contraceptives, stealing from tax payer revenue or borrowing further from abroad, deepening debt.  Socialism degrades the human spirit to apply their God given talents to better themselves and the world.   Free market capitalism, in contrast, provides incentives for all to develop their God given talents to the maximum.  Which environment – capitalism or socialism – would best motivate the servants in the parable?  The answer is easy.  Study world economic history if you have any doubts.

About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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