Good explanation. Just one nit to pick over word choice: “Capitalism” is not a synonym for “free market”.
Capitalism is a separate ideology that champions (even romanticizes) the acquisition and hoarding of wealth at all costs. It leads to trusts, monopolies, stifling of competition and, eventually, the death of the free market.
In other words: Socialism and free markets are compatible. Socialism and Capitalism are not.
Good explanation. Just one nit to pick over word choice: “Capitalism” is not a synonym for “free market”.
Capitalism is a separate ideology that champions (even romanticizes) the acquisition and hoarding of wealth at all costs. It leads to trusts, monopolies, stifling of competition and, eventually, the death of the free market.
In other words: Socialism and free markets are compatible. Socialism and Capitalism are not.