Registered: Feb 2003
Local time: 02:12 PM
Location: The Seven Seas or the Outer Banks.
An economic system in which the production and distribution of goods are controlled substantially by the government rather than by private enterprise, and in which cooperation rather than competition guides economic activity. There are many varieties of socialism. Some socialists tolerate capitalism, as long as the government maintains the dominant influence over the economy; others insist on an abolition of private enterprise. All communists are socialists, but not all socialists are communists.
Our Government now owns or controls Amtrack, The Post Office, GM, Chrysler, Freddie Mac, Fannie Mae, Banks, Social Security, Medicare and next they want to control Health Care.