1. Social Welfare
... own and manage farms, factories, mines, railroads, securities, and houses. 3. The profit motive. People are free to enjoy the rewards of their own labor or investment of capital. As economists Adam Smith wrote "the architects of the demand-and-supply matrix, supported a limited definition of persons with no productivity . . . Thus, transfer payments should never exceed or be even equal to what ... enterprise and property rights, socialist governments also safeguard personal freedoms. Under socialism, the only labor is a legitimate source of income, and owners of capital are suspect (Cri...
- Word Count: 3108
- Approx Pages: 12
- Grade Level: Undergraduate