Capitalism is the idea that if people work hard, they get paid a lot, and if people dont work hard( a.k.a bums) they dont get rewarded. Also means that private owners own there own businesses and the government doesnt interfere.
Socialism is the idea that people get equal rights and rewards no matter what. So no matter how much harder you work than the person next to you, youll always get the same pay/rewards. Also means the government will interfere with busnisses.
So which one would you like america to be?( by the way, america is currently capitalism)
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If its going to be capitalism, let it be capitalism. You cannot pick and choose regulations and still call it a free market or capitalism. One could argue the whole mortgage crisis never would have happened if we were truly capitalist.
edit: And I am a capitalist, I don't believe in rewarding failure.
I think a mainly capitalist system with a (very) few social(ist) security measurements in place, is a good way to go for most countries. If you would force me to decide though, I would choose Capitalism without a doubt.
And America is currently NOT capitalistic. It's is more of a mutated capital-socialist corporate cluster ****.
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Capitalism at least gives you a chance. Socialism tends to send everyone spiraling into chaos. That said, I think most people really want socialism they just know it doesn't work out in the end.
I'm with Bardock on the "capitalism + security measures" being a generally effective way to go. I don't think you can morally leave people completely their own devices (actually I don't think you can leave most people to their own devices at all) knowing that there are problems that need to be addressed but don't appeal to private businesses.
You could say with certainty that it wouldn't have happened if the nation were truly socialist.
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Capitalism for sure is the beter way, we have been moving towards socialism for some time, and now it looks like the democrats are going to claim they have a mandate and move us even further away from capitalism.
I fully expect things to get worse and not better with Obama rolling over for Pelosi.
Socialism is like adrenalin, when one is dying, a dose can save a life, if applied constantly, it will kill you.
Pure socialism will destroy a country but it does wonders when it comes to saving collapsing economies i.e. the US in the great depression or Chile after Pinochete/milton friedman's failed economic experiments.
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is no one going to point out that the proposed definition of socialism has nothing to do in any real sense with actual socialism, which is the nationalization of market sectors.
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Just to make a humorous remark, some of my friends feel that America is going to become a socialist nation under President Obama and so they want to leave for Canada... which is much more liberal and socialist than America is in the first place, so their comment is ignorant.
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in a 1st world country, a mix of the two is neccessary otherwise it wont be a 1st world country...
in a purely capitalist country then people at the top would outsource the jobs to the cheapest labour market meaning there would be massive unemployment...literally over 50% as there would be no manufacturing whatsoever....the service industries would also collapse as there would be noone able to buy services...because of pure capitalism there would be no social security and so no benefits for those unemployed to fall back on
there would also be far less tax going to the government to provide any kind of service the people and so infrastructure would begin to fail
needless to say...after 10-20 years of pure capitalism the 1st world country would end up a 3rd world country
in a purely socialist state there is little incentive for big business to stay located there...they have the finances and resources to upsticks and move to a more capitalist friendly country...
so the best working model is a mix of the two...a capitalist friendly tax system to encourage big business as well as a decent social security system to allow support of people who fall on hard times
i think the US doesn't really have the right balance at the moment and it needs to change now while it is the sole economic superpower because once China and India gain more power then it's not unfeasible that large US businessess that would foot the extra cost for more socialist policies (a publicly funded healthcare system for all...better benefits for unemployed) would indeed upsticks and move to one of those countries.
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There's capitalism in Afrika? I thought the problem there was the strong and almost totalitarian leaders, governments or warlords...which seems contrary to the principles of capitalism.
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Yeah, I heard a funny thing; Somebody said to me:
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I think that people are...the greatest fun!"
Actually, it's just all the riches stay at the top. The situation in Africa is still deeply affected by Colonization if it just occurred a few years ago.
Most capitalists societies have socialist stuff in them as jaden already mentioned so I won't take credit for that.
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You need a healthy dose of one to go with the other. You do need to allow markets to regulate business themselves. But in a country that stands on equity, those who aren't at the top need an opportunity to make it.
To go more socialist is kind of an auxiliary maneuver designed to help stabilize a business that practically everyone depends on. Like the airplane business in the 1970's, the New Deals, and even the current bail-out.
Nationalization should be undertaken carefully, so the government can have the proper assets to ensure for the public defense and provide some basic measures of welfare.
Go mixed-economy.
Capitalism does make for a stronger individual, I think. One who realizes hard work pays off and to rely on your strengths and determination. That outlook on the economy is essential for massive growth.
Last edited by Aequo Animo on Nov 5th, 2008 at 04:25 PM
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