Capitalism, Socialism, and The Welfare State

• Capitalists typically complain that socialism is unearned welfare to the undeserving
• Similar analysis can be applied to capitalism, whose externalities effectively socialize costs while privatizing the benefits. As such, capitalism can make little claim to be "deserving"
• Honest analysis equates socialism and capitalism in terms of its welfare mentality, as opposed to entrepreneurial mindset, for there appears in general to be little entrepreneurship is established corporations - whether for profit businesses or governments (providers of social services)
• As such, capitalism should be, more honestly, called "private gain socialism."