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Socialism is Not the Economic System We Need

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One of the most contentious economic debates that often occurs today is the debate between capitalism and socialism. Despite a wide array of contradicting opinions, many people in the US still feel that socialism is a superior economic system for the country. Young people in particular love the idea of socialism so much, that 51% of them have a positive view on it. The 2016 presidential candidate Bernie Sanders, a self-labeled socialist, won 43.1 percent of the democratic popular vote and socialist Alexandria Ocasio-Cortez even won a House seat in New York’s 14th District in 2019.

Young people’s ebullience towards socialism isn’t totally unfounded. Many of the socialistic policies prescribed by politicians such as Bernie Sanders and Alexandria Ocasio-Cortez have very stark differences with the old world image of socialism. It is not the same as what we historically saw in the Soviet Union and North Korea. Socialism and communism are indeed different.

But regardless of this, we need to ask the question: is socialism the right system for us? Though socialist policies like universal healthcare, education and income may seem rational and fair, there are very serious considerations we need to make before we go in that direction. On top of that, there’s always the fear that these seemingly harmless policies could make the government too large for many peoples liking.

These very fears boggle the minds of economists, academics and politicians. Winston Churchill himself once said, “Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy. Its inherent virtue is the equal sharing of misery.” This quote perfectly describes what many people believe socialist policies can turn into.

On the opposing side of socialism is capitalism. Capitalism’s fundamental philosophy is that the individual has the right to what he/she creates. Capitalism utilizes the free market and the laws of supply and demand to facilitate efficient economic policy.

Socialism’s sympathizers generally criticize capitalism because of its reliance on profit. They believe that profit seeking can be a cause of corruption and inequality. Though this can be true in some cases, these same people seem to be very nearsighted when it comes to the benefits that they themselves derive from capitalism.

If you take one quick look around the room you are sitting in, you will be very hard-pressed to find one thing that wasn’t created by capitalism. The lights, the chairs, the clocks, and the clothes you are wearing, etc. All of them were produced by a company whose goal is to make a profit.

The competition that arises in the free market is one of the most important reasons why capitalism arguably outshines socialism. Competition drives down prices, and requires business owners to be rational and adaptive in their production, because if they aren’t, they will fail.

This competition is also the reason that capitalism can facilitate progress. It allows intellectuals to profit from their inventions and encourages them to improve. The evolution of communication, transportation, production technologies, and software that make our lives easier are great examples. But this can even be seen in fields like medicine, where healthcare and pharmaceutical companies work to produce lifesaving drugs and technology.

From telegraphs and telephones, to high tech medical treatment, capitalism has the power to fundamentally improve our society.

Numerous studies have found that thanks to the free market, hunger and poverty around the world have been in a drastic decline. Even our own country benefits greatly with record lows in unemployment and poverty. Much of this is attributed to the free market.

Though there are indeed rational arguments for an increased presence of socialist policies, we need to discuss whether they are desirable or not. There is a definite advantage to having an economy in which government policies and regulations cooperate with the free market. That is why we need to have decisive discussions about how each can attribute to a more healthy economy.

2 Comments

  1. Wingnut
    April 30, 2019 at 8:28 pm — Reply

    Hi

    We ALL see the pyramid scheme symbol on the back of the USA one dollar bill. We ALL see the servitude infestation in capitalism. We ALL see the “pay up or lose your wellbeing” Chicago mob-like felony extortion widespread within capitalism. We ALL see the “join or starve” felony extortion done to the 18 year olds… by this ugly competer’s church called capitalism. We ALL see how forcing competer’s religions onto 18 year olds, and/or LURING them into it with bling-dangling and promises of empowerments… kills membership in the cooperator’s church (Christianity/socialism). We ALL understand that AmWay (American Way) (New World Order) got “the exclusive” (legal tender) on the TYPE of survival coupons (money) accepted in supply depots (stores) and leverages 18 year olds into the organization via that felony activity. (It puts AmWay-coupon slaving requirements called price tags… on all the survival goods). We ALL understand how sure-to-collapse farmyard pyramids work… from our childhoods. Upper 1/3 are “heads in the clouds” while the kids on the bottom ALWAYS GET HURT from the weight of the world’s knees in their backs. And, we ALL see how such systems are illegal, immoral, and just plain sick.

    We American Christian socialists are patiently awaiting the natural fall of the pyramid-o-servitude, or the busting of the free marketeers felony… by the USA Dept of Justice. We Christians are VERY CLOSE to issuing a cease and desist order until the servitude and inequality goes away… which means it turns into a commune. Commune is a word we LOVE when used in the word “community”… but its one the caps HATE when used in the word “commune-ism”. Go fig. PROGRAMMED!!

    Do a Google IMAGE SEARCH for ‘pyramid of capitalist’ to see a full color picture made way back in 1911, when capitalism was first discovered to be a con/sham instigated by the Free Masons/Illuminati. Folks sure bought into the thing… hook, line, and sinker just the same. The caps didn’t even check if a string was attached! Now THAT’S easy fishing, eh?

    Time to level the felony pyramid scheme called capitalism. Abolish economies and ownershipism worldwide, and hurry. Economies just cause rat-racing, and rat-racing causes felony pyramiding. BUST IT, America! Look to the USA military supply/survival system… (and the USA public library system) for socialism and morals done right. Equal, owner-less, money-less, bill-less, timecard-less, and concerned with growth of value-criteria OTHER THAN money-value. Quit doing monetary discrimination immediately, and make it illegal. There are MANY measurement criteria of “value”… not just dollars. Try morals, efficiency, discrimination-levels, repairability, etc etc. Economies are cancerous tumors, and to cheer for their growth… is just insane. Profiting causes inflation, so if caps LIKE inflation, and if they LIKE a terrible time in afterlife when they meet the planet’s ORIGINAL OWNER before caps tried to squat it all with ownershipism, then keep it up with the felony pyramiding. I dare you. While us Christians are finally bulldozing that pyramid scheme back to level, lets make servitude and “join or starve” (get a job or die) illegal in the USA, and lets level the architecture seen in USA courtrooms, too. Right now, USA courtrooms are church simulators or “fear chambers”, by special design. Sick.

    Isn’t that back-of-the-dollar pyramid… a Columbian freemason symbol? And WHERE is the USA gov located? District of Columbia? (Not even part of the USA!) How much more blatant can ya get? The “Fed” runs a pyramid scheme called the free marketeers. If you’re using the “federal reserve note” certificates, or using no-other-living-thing-on-the-planet entitles of ownership, you’re bought into a servitude/slavery con/sham… called capitalism. Pyramiding 101.

    Larry “Wingnut” Wendlandt
    MaStars – Mothers Against Stuff That Ain’t Right
    (anti-capitalism-ists)
    Bessemer MI USA

  2. Tim
    May 2, 2019 at 7:12 pm — Reply

    “The competition that arises in the free market is one of the most important reasons why capitalism arguably outshines socialism. Competition drives down prices, and requires business owners to be rational and adaptive in their production, because if they aren’t, they will fail.”

    I would implore you to read “Towards a new socialism”, in which it explains the principles of planned economics and shows the falsehoods present within libertarian economics. Most of what you say in this article has been shown to be categorically false.

    Also, you have a very narrow view of what socialists think about capitalism. The criticism isn’t that profit exists, the criticism is that all profit is stolen labor value. Plus it’s a lot more complicated than a mono-causal criticism, capitalism isn’t simply an economic system, but rather the entirety of social relations that arise out of the historical age of capital.

    In short, read more Marx and less Rand.

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