There are no answers in economics.  Capitalism gives us extreme differences between rich and poor. Sixty-two people owning more wealth than half the world’s population is both obscene and ludicrous.  Its claim that the market distributes goods with maximum efficiency is surely history’s biggest joke. Communism gives too much power to the state and opens the door to Stalinism, and it too has failed  to distribute goods with even moderate efficiency.  A compromise between the two doesn’t work all that well either, for the high taxation that an even semi-socialist state requires frustrates the enterprise and wealth creation necessary to pay the taxes.  Yet of these three unsatisfactory alternatives the third, with some warm beer and a few old maids biking through the mist to church thrown in, is the least harmful.  It is what we have got and we should be grateful for it, although at the moment perhaps we have swung too far towards the capitalist end of the swing.


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