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To date, I believe a "customized" version of true capitalism is the best solution to solving the myriad of issues presented in a Socialist economic system. There have to be some limited controls for the "common good" such as transportation: airways, waterways or highways all have to be built and maintained for the public good. Laws and enforcement to ensure the citizens use them safely. Contracts have to be drawn up between purchasers and sellers to assure what is being bought is what the seller says it is and the buyer has a means of redress if it isn't.
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