Economic Systems Defined - The Adam Smith Initiative

CAPITALISM: You have two cows. You sell one and buy a bull.
FASCISM: You have two cows. The State takes both of them and sells you the milk, and you cannot refuse to buy.
SOCIALISM: You have two cows. The state takes one and gives it to someone else.
COMMUNISM: You have two cows. The State takes both of them and gives you the milk, but it’s saured,
PURE DEMOCRACY: You have two cows. Your neighbors decide who gets the milk.
MILITARY DICTATORSHIP: You have two cows. The State takes both of them and shoots you.