Talk:Socialism for the rich and capitalism for the poor/Archive 1

Raiding the origin
Gore Vidal is very likely the original coiner of this phrase. It appears in his 1969 book "Reflections Upon A Sinking Ship", and there are indications that it had been part of his repertoire for some time at that point. I've corrected that point in the article, and will look for earlier documented usage. Mrnorwood (talk) 15:28, 7 January 2009 (UTC)

Correction: it appears to have first been popularized by Michael Harrington's 1962 book "The Other America". The earliest Google Book Search citations I can find are all 1962, and they all cite Harrington. The line shows up on p. 170 of The Other America. See e.g. and  I have amended the article acccordingly. Mrnorwood (talk) 15:46, 7 January 2009 (UTC)

Another step earlier! From google books, searcing for just "enterprise" on Harrington's book, you get at p. 58 ' (This is yet another case of "socialism for the rich and free enterprise for the poor," as described by Charles Abrams in the housing field)'. --Sum (talk) 20:57, 7 January 2009 (UTC) I found a quote from Adams, but it seems it is from 1965. It is in his book The City Is the Frontier. It is quoted in this article: OBSTACLES TO EVOLUTION of the manas journal V OLUME XXXVI, N O. 49D ECEMBER 7, 1983. The quote from Abrams: "In short, the government now not only makes itpossible for builders to embark on risky ventures withlittle or no cash but it underwrites risks in themortgage business and provides liquidity to thelending institutions when they no longer want thepaper. The thin thread of equity (if any) provides thedubious margin which 'justifies' the adventures.Social purpose, the rationale for most subsidizedoperations, has become the palliative for the removalof the gamble from private building speculations andmortgage investments and for passing it to thegovernment.Unless these mechanisms are reshaped to benefitlow-income groups or fulfill similar social purposes,the emerging trend of the system would seem to betoward a 'socialism for the rich and private enterprisefor the poor.'" Abrams wrote exensively on the subject of housing, we should find the first of his publications to use the phrase.--Sum (talk) 21:09, 7 January 2009 (UTC)

Searching for 'Abrams' on Harrington's book, Harrington refers twice to what Abrams said in 1959. Maybe that's the key date for the origin of the expression. In 1959 spoke with a Senate Committee, we should find the transcript.--Sum (talk) 11:13, 9 January 2009 (UTC)

George Bernard Shaw
If I may kindly interject, I think you might find that the source of the quote is George Bernard Shaw. One thing the page does list is Robert F Kennedy using the phrase. He loved Shaw. I'd be grateful if anyone can find the exact source. I've googled quickly but can't come up with anything more than second hand references.  Wik idea  14:32, 15 March 2010 (UTC)

United States coverage bias?
I'm not sure there is a globalize/US bias in the article coverage; the topic is part of capitalism ideology, which is already globalized and almost always gets fabricated in the US first.--Sum (talk) 21:58, 6 April 2011 (UTC)

Removed material
The notion that banks privatize profits and socialize losses dates at least to the 19th century, as in this 1834 quote of Andrew Jackson:

|I too have been a close observer of the doings of the Bank of the United States. I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the Bank. ... You are a den of vipers and thieves. Andrew Jackson in 1834 on closing the Second Bank of the United States.

--68.9.119.69 (talk) 22:11, 10 September 2012 (UTC)
 * Why you remove good info? Forst talk consenus then edit per agrrement. — Preceding unsigned comment added by CzechRup (talk • contribs) 00:09, 11 September 2012 (UTC)


 * The removal of this text by User:68.9.119.69 would seem fine, because that Andrew Jackson quote relates more to the notion of Privatizing profits and socializing losses - and the Andrew Jackson quote is included in that article, as it should be. --Chris Howard (talk) 18:46, 12 September 2012 (UTC)