Winston Churchill: Capitalism Vice
on Thursday, July 9, 2020Winston Churchill Money Quote saying capitalism is unequal in its rewards and socialism entirely equal in suffering. Winston Churchill said:
“The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries” — Winston Churchill
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Winston Churchill seems to be contrasting the economic systems of capitalism and socialism. He argues that under capitalism, while wealth and prosperity are created, they are not distributed equally among members of society.
However, under socialism, while everyone may share equally in government entitlements, it limits overall prosperity and innovation in the economy.
Churchill’s view is that capitalism is superior because it generates greater overall blessings, even if they are not evenly distributed, whereas socialism aims for equal distribution but risks sharing equally in fewer resources and opportunities for advancement.
The quote suggests Churchill believed neither system was perfect, but capitalism’s virtues outweighed socialism’s in terms of economic outcomes.
Birthday: November 30, 1874 – Death: January 24, 1965