Socialism is bad for markets? Tell that to the Nordic countries on this list https://t.co/Wyn989R7eP pic.twitter.com/Vh1Py4li4t— MarketWatch (@MarketWatch) April 15, 2016
But there is a problem with the basic premise of the tweet. By definition, the stock market is not the socialist part of an economy.
Indeed, as Paul F. Cwik, writes:
Murray Rothbard once asked Ludwig von Mises at what point on the spectrum of statism is the point that designates a country as "socialist." To his surprise, Mises said that there was, indeed, a clear-cut delineation: The Stock Market.
Mises said, "A stock market is crucial to the existence of capitalism and private property. For it means that there is a functioning market in the exchange of private titles to the means of production. There can be no genuine private ownership of capital without a stock market: there can be no true socialism if such a market is allowed to exist."-RW