You Can't Legislate Economic Laws

I have posted this story before, but with Thanksgiving coming and it's roots originating with the Pilgrims, I thought I'd post it again. Capitalism, i.e. Free Markets, will always work if you allow them it operate, and Socialism won't.  Always does, always will!

Plymouth Plantation

When the Pilgrims first landed in Plymouth, Massachusetts in the Fall of 1620, Governor William Bradford set up the colony so that everyone would work for the good of the colony and all the output was to be shared. In other words, "from each according to his ability, to each according to his need". A Socialist Society. The winter of 1620-21 was extremely harsh and about half of the colony died. Many of the colonists in subsequent years refused to work the fields and preferred to steal food. Governor Bradford wrote that the colony was riddled with corruption, confusion, near famine, and discontent. The crops were small because they were repeatedly stolen until they were almost inedible. This situation continued through the winters of 1621-22 and 1622-23.

The harvest of 1623 was different. The harvest that summer was very large and ended all the theft and famine. In fact, by the summer of 1624, the colonists had produced enough corn to start exporting the surplus.

What changed?

Governor Bradford abandoned Socialism. He gave each household a piece of their own land, and said they could grow their own crops and keep or trade them away as they saw fit. Production soared. He had basically replaced Socialism with the Free Market System. 

As they say "the rest is history".

As Margaret Thatcher said: "The problem with Socialism is that eventually you run out of other people's money"