One sort of socialism redistributes income and thereby provides a disincentive to productivity. Another sort of socialism redistributes wealth and thereby provides a disincentive to thrift. What we have forgotten is the old and venerable form of socialism that allows wealth to remain in private hands but teaches the wealthy to use it wisely and charitably. How many nineteenth century aristocrats were actually made more liberal by liberal education? Perhaps not many. But now we have given up the attempt.