[quote=FlyerInHi]Certainly the Russian revolution caused rethinking and prompted western governments to implement socialist policies to soften capitalism.
At first, it was incidental that lifting the lower rungs of society created more demand and economic growth. Economists now know that more demand, more spending among all social classes is best for growth and prosperity. For sure, there is an
optimal level of redistribution and government intervention in guiding economic opportunity.[/quote]
We didn’t just implement socialist programs to “soften capitalism,” we did it to compete with the communists who started well behind us, but were catching up, and even surpassing us, at a rapid pace. A majority of our most impressive innovative technologies and advancements has its roots in government-funded R&D.
