Economic types

It is difficult for some to understand the good and bad parts of capitalism and socialism. First off, most people know that pure capitalism like pure socialism does not exist in most governments today. The governments of the west including the United States are a mixture of these two extremes and political parties battle to push the country to one end or the other. In the US the less government side follows the philosophies of Friedrich Hayek and the more government group follows John Maynard Keynes. Over the past 75 years the country has moved back and forth between these two ideas without straying too far in either direction. The less government approach allows for individuals to follow their dreams and some achieve great success and others fall into bankruptcy. The more government approach tends to equalized people more toward the middle of the pack. We are now seeing this struggle once again played out in the current politics. Because some have succeeded beyond what is considered fair there is pressure to share their success with those who have not done as well. Since the majority will benefit from this sharing it is a popular idea. Most people who want higher taxes do not want higher taxes on themselves. Most people who want more regulation to not want regulations that adversely effect their lives.