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According to Marxist doctrine, socialism is a stage of society between capitalism and communism where private ownership and control over property are eliminated. The essence of socialism is the attenuation and ultimate abolition of private property rights. Attacks on private property include, but are not limited to, confiscating the rightful property of one person and giving it to another to whom it doesn't belong. When this is done privately, we call it theft. When it's done collectively, we use euphemisms: income transfers or redistribution.
From Walter Williams
Posted by Ted at August 28, 2004 9:22 PM