Socialism and Capitalism Compared
James MacKaye '95 gave the fourth of his series of five lectures on "Political Engineering" in Emerson Hall yesterday afternoon, treating his general topic from the point of view of "Capitalism and Socialism." The last lecture of the series will be given in Emerson D tomorrow afternoon at 4.30 o'clock, and Mr. MacKaye will be in Emerson F on Friday afternoon at the same hour to answer any questions on the subject.
The essential characteristics of capitalism is production and distribution for profit; that of socialism, production and distribution for use. There are four precepts by which capitalism and socialism may be compared. This test is incomplete, but it creates a strong presumption in the favor of socialism. Socialism is an undeveloped mechanism and should be judged as such. The government offices are run socialistically, especially the post office, and if the part of the work of the latter which is run by contract were eliminated or changed, the whole system would conform to socialism in every particular. The decision between capitalism and socialism should not be made upon superficial details, but upon the essential principles inherent in each.
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