Newsfax World News – July 9, 2026
Capitalism VS Socialism
By Hal Mitchell
When I was a Freshman in college, I took a course in economics to satisfy the requirements of a major in Marketing and a degree in Business Administration. One of the first things they taught me was the definition of the word “Entrepreneur” and, of course, how to spell it. Here is that simple definition: Anyone who does business in a Capitalistic system. Well, I did know what Capitalism was so I was off and running. Not everybody, however, knows the difference between Capitalism and its counterpart, Socialism. Now, back to my story, as Paul Harvey used to say.
However first, here’s my pun about Socialism: If Communism were Budweiser, then Socialism would Bud-Light! Think about it!
Definition of Socialism: Economic and political theories or movements advocating collective or governmental ownership and administration of the means of production and distribution of goods.
Definition of Communism: A political theory derived from Karl Marx, leading to a society in which all property is publicly owned, and each person works and is paid according to his abilities and needs. See also Marxism. Now, does my pun make more sense?
My additional comments: Capitalism is God’s way of doing business. It rewards individuals in proportion to their use of their God-given talents and their practice of working for a living. See 2 Thes. 3:10 – If a man will not work, neither shall he eat. I googled scriptures on “Work” and I found ten more of them. Here are just three: 1. Col. 3:23 – “Whatever you do, work heartily, as for the Lord and not for men. 2. Prov. 16:3 – “Commit your work to the Lord, and your plans will be established. 3. Gen. 2:15 – The Lord God took the man and put him in the garden of Eden to work it and keep it.