SOCIALISM:Exactly how is microcredit for capital formation consistent with socialism?

http://www.alertnet.org/thenews/newsdesk/N04171136.htm

RPT-FEATURE-Venezuela slum takes socialism beyond Chavez
06 Jul 2010 11:00:17 GMT
Source: Reuters
By Esteban Israel

*** begin quote ***

They are also turning their hands to urban agriculture and fish farming to feed locals, and say that the future communal bank will extend micro-credit to foster economic independence.

*** end quote ***

Why?

If these guys are socialists why do they need money. And, microcredit? That makes no sense. These guys are socialists. Credit is at the bedrock of capitalism. And, that’s their evil villain. Unfortunately, economics is as real as physics in terms of science. Scarcity is a sad fact of life. And, wishing it would go away is hopeless. And actually detrimental to making life better for everyone.

# # # # #

Comments are closed.

Follow

Get every new post delivered to your Inbox.

Join 1,059 other followers

%d bloggers like this: