Once upon a time a man rose to be the leader of his country. It was achieved by a revolution of the masses who accepted the new order of everyone being equal. The new leader executed millions of people that opposed the new philosophy of equality for all. He killed the opposing political leaders, the wealthy and the landowners. He was hailed for creating the new order. Businesses, farms, universities, professions, factories, housing and all other activity came under the ruler and his appointed committees. The rest of the world was in awe. The masses owned and controlled all segments of the society. There were no rich and no poor, only equals.
In the adjacent land the masses wanted to achieve the same kind of wealth. They followed a new leader and revolted. The old government fell. Committees were formed to reconstruct their society of equals, as there neighbors had done. Gone were the millionaires, the landowners and the money lenders. All were equals, no rich and no poor.
As the years passed, productivity fell in those two countries. They were not able to grow enough food to feed all the people. The products produced were shoddy, and went unsold. The committees had to import goods, food and services. This caused a drain on their treasury which lowered the living standard of the masses. Only the ruling committee member had the good life that was promised.
Over the years, poverty was on the rise. As a result, the committees decided to allow the masses to produce on their own. And a miracle happened. A few of the masses learned that wealth could be attained on their own. No central committee to dictate every move. More were allowed to produce for profit. Soon they were hiring others to help produce more in the factories and farms. They stopped importing and started exporting. As a result the central committees did not have to buy from others and their treasury grew. They also learned that allowing for millionaires and landowners, that all would prosper. They became so prosperous that they began lending their money to other countries.
In conclusion to our story, boys and girls, what have we learned? The social contracts of Russia and China have evolved back to good old capitalism. That is something we of the West have to relearn. For example, Greece, Ireland, and the rest of Europe have had to give up the cradle-tograve entitlements to become financially stable. We in the USA should not emulate them as we are. A third of our national budget each year is now borrowed from China and others. You and your children have to repay the debt our leaders are accruing and are increasing. Isn’t that great?
Now go to sleep and sleep well.
Philip J. Migliore — Franklin, N.C.