That’s right, the Pilgrims who came to America on the Mayflower were debt slaves. The London Company, which financed the trip and the establishment of the Plymouth Colony, was a publicly owned business that insisted that the Pilgrims live and work in a communal or collectivist group, under the guise of lowering costs and speeding up repayment. Unfortunately, then as now, socialist/collectivist endeavors don’t work out very well. That’s because when it’s “All for One and One For All,” society breaks down and everyone winds up broke and starving. In the 1600’s, economic thought was not very well developed and capitalism was in its infancy. Later in the 1700’s Adam Smith explained many economic laws that laid the ground work for future economic prosperity on a grand scale. But these lessons are periodically forgotten and must be relearned through bitter experience, such as now. Which is why, when Rush Limbaugh said that he wanted, “Obama to fail,” this did not serve capitalism. The correct statement would have been, “Obama’s economy must fail, it is economic law!”
If a group of pious, religious fanatics couldn’t devise a system whereby all it’s members served the greater good, than can it possibly be done by anyone?
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