What are the benefits and flaws of socialism and capitalism?
btt asked:
It seems that socialism has become quite popular here lately. I would like to know the benefits and flaws of socialism and of capitalism, especially in a historical context. I don’t recall any examples of a long term successful country that was socialist. Your help would be greatly appreciated.
Swine Flu Communications Handbook
Just wanted to give you a quote ” if you are not a socialist at age 20 you do not have a heart, if you are still a socialist at age 40 you dont have a brain” this kinda says it all!!!
Socialism isn’t designed to work above a family or clan unit, and then only when they are self sufficient. Most of the Native American tribes practiced a form of socialism, everyone in the Tribe contributed what he could and they shared the available natural resources for the common good. That was why they had no need for money and no concept of land ownership. Those systems worked fine for centuries until the Europeans arrived.
Capitalism is essentially a zero-sum game, like a game of Monopoly it’s about funneling all the available capital into the fewest possible number of people leaving everyone else destitute. When the disparity becomes too big the system collapses and you get a depression. Normally the way it works is austerity leading to prosperity, prosperity leading to decadence, decadence leading to collapse and the fall of the country. Depending on your definition of success there’s never been a successful capitalist country either. Countries that have lasted had to maintain a careful balance between regulated distribution of necessities while still allowing for ample reward to the innovative, the industrious, and the creative.
One benefit of Socialism is that everyone is equal. One flaw is that there is not room for individual growth. One benefit of Capitalism is that you can make your ideas a reality. One flaw is that if you’re going through tougth times, you have to pull yourself out instead of government help, which is why the US Government is becoming Socialist under Comrad Obama.
Successful societies balance the need to provide for those who are truly unable to provide for themselves (the elderly, the sick, children) with the requirement that those who can work do so.
Extreme forms of socialism, such as Communism, lean too far toward supporting those unwilling to work. Laissez-faire capitalism leans too far toward ignoring the true needs of the elderly, the sick, children, and others.
Whatever name you choose to apply, a middle way is the only political system that can succeed in meeting the needs of its citizens.