Ian Flint ("Wealth Creation", September 13) seems to have missed the whole point of my argument: There are different varieties of socialism, and socialist aspects are often beneficial to capitalism itself when both systems exist in symbiosis.
The US and the wealthy western European nations that he praises, have all utilised socialism to boost their economies. The social market economy (mixing socialism with capitalism) was the main economic model used in western and northern Europe during the Cold War era. During the great depression, when the US found itself in much the same economic state that South Africa is in today, President FD Roosevelt initiated a series of essentially …
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Publication information: Article title: Capitalism's Crutch. Contributors: Not available. Newspaper title: Cape Times (South Africa). Publication date: September 18, 2007. Page number: 8. © 2009 Independent News & Media PLC. COPYRIGHT 2007 Gale Group.
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