> Why do those philosophies have to be mutually exclusive? Can't you apply principles of social welfare to the public sector while allowing entrepreneurship in

> Why do those philosophies have to be mutually exclusive? Can't you apply principles of social welfare to the public sector while allowing entrepreneurship in the private sector? Because they compete for capital. The former requires high taxes, which leave a lot less private capital for investment and entrepreneurship. For example, imagine if the government had taxed away 90% of Elon Musk's fortune.