Feudalism - You have two cows. Your lord takes some of the milk.
Fascism - You have two cows. The government takes both, hires you to take care of them,
and sells you the milk.
Communism - You have two cows. Your neighbors help take care of them and you share the milk.
Totalitarianism - You have two cows. The government takes them both and denies they ever existed
and drafts you into the army. Milk is banned.
Capitalism - You have two cows. You sell one and buy a bull. Your herd multiplies, and the economy
grows. You sell them and retire on the income.
Enronism - You have two cows. You sell three of them to your publicly listed company,
using letters of credit opened by your brother-in-law at the bank, then execute a debt/equity
swap with an associated general offer so that you get all four cows back, with a tax exemption
for five cows. The milk rights of the six cows are transferred via an intermediary to a Cayman
Island company secretly owned by the majority shareholder who sells the rights to all seven
cows back to your listed company. The annual report says the company owns eight cows, with an
option on one more.
Back to Index