Rage.Of.Olympus
Senior Member
Words like capitalism and socialism have lost their meaning.
Socialism seizes the means of production and centralizes power. It destined to fail, almost by design. There are no European countries that are socialist. Social safety nets and regulation are not socialism or anti-capitalism. For capitalism to thrive, we need anti-trust regulations, small amounts of safety nets that encourage risk-taking and entrepreneurship are also vital. Regulatory capture, wealth inequality, and power consolidation are the end result of socialism ironically.
The last few years has seen wealth inequality skyrocket and power consolidate among the 0.01% because capitalism is being replaced with some idiotic little brother. Regulations have been removed, anti-trust laws have no teeth to them anymore. Even the bailout of the banks, what is that if not socialism? What about the perpetual QE, and low interest rate environment? It is a form of corporate welfare. We have so many zombie companies, and rate of productivity is declining.
I think its ironic AF that people go to places like Occupy Wall Street and fly the hammer and sickle. In a socialist country, the exact same outcome would occur (People in power bailed out). The only difference? You'd be shot and your family would be sent to the gulags.
China is closer to communism but even they realized that a system designed after capitalism is far superior and have had much more wealth created and have overcome some of the pitfalls made during the Mao era. Unfortunately Xi is consolidating power at a rate not seen since Mao. That fear is causing some problems already (The spread of coronavirus being a great example).