by Chris Campbell
Laissez Faire Books
“For many years,” John Chamberlain writes in his book The Roots of Capitalism,“the system we call capitalism was on the defensive. It existed in the here-and-now, and its imperfections, whether inherent or not, were plainly apparent to everybody.
“Socialism, on the other hand, was something to be attained in the future, a thing of shining colors wrapped in the gossamer tissue of a dream. Its imperfections, if there were to be such, were still concealed in the womb of time. When contrasted with a dream of perfection, capitalism was manifestly at a disadvantage.