Obviously, both have been tried to one extent or another and both have failed spectacularly. But from those failures, lessons can be learned.
The lesson I learned a long long time ago is that purity is poison. Purity in genetics results in profound birth defects, but it is also poisonous to art, literature, music, even politics and religion...and yes, economics.
Our present day form of capitalism is an exercise in the fundamentalist addiction to purity.
Purity leads to nothing more than purity oaths and an ever narrowing circle which ultimately ends in a circular firing squad.
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