In the current campaign for the presidency, we hear quite often that the choice before us is between capitalism and socialism. Or worse, a vote for socialism may actually be a vote for communism. For some, any type of governmental involvement, whether through regulation, public programs, or even taxes is viewed as socialism. Capitalism, after all, requires unfettered markets along the lines of 19th Century laissez-faire. Or put another way, if you believe that markets can coexist with a welfare state, then you must be a socialist.
# # #
Author of Restoring the Middle Class Through Wage Policy: Arguments for a Middle Class
Understanding Public Policy in the United.States.
The Minimum Wage: A Reference Handbook
Wage Policy, Income Distribution and Democratic Theory
The Case of the Minimum Wage: Competing Policy Models
Oren M. Levin-Waldman is faculty member in the School of Public Affairs and Administration at Rutgers University-Newark, and Socioeconomic Research Scholar at Global Institute for Sustainable Prosperity Research. Learn more at the professor’s Website: https://www.econlabor.com/. Direct email to firstname.lastname@example.org