Time to Correct a Distorted Picture

THE talk about Communism goes on and on; its moves and moods are subjects of intense scrutiny. But who talks about capitalism? The Communists (and a lot of Socialists) paint a distorted picture of capitalism as it was in 1867 when Marx published Das Kapital, and most anti-Communists answer with a theory of capitalism developed more than 150 years ago by Adam Smith in his Wealth of Nations. The reason for this, says Adolph A. Berle Jr. in The Twentieth Century Capitalist Revolution (Harcourt, Brace; $3), is...

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