Capitalism vs Socialism

Posted on October 19, 2011 by

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The debate over which politico-economic system is the best, capitalism or socialism, has been going on for many years” (Darren). Today we hear about the capitalist aspects of our economy much more than the socialist aspects. Most Americans believe capitalism is the way to go; it will make our economy flourish. This is based on an old myth that people who work hard will succeed. However, socialist countries also have hardworking citizens. In addition, most socialist countries have free healthcare and great public education systems too. So the real question becomes – Would one rather choose an individual or community paradigm?

Capitalism works well for those who are given leadership opportunities. And, capitalism siphens enough wealth away from the workers, creating advancement, riches and fame; nevertheless, capitalism does nothing but harm the laborer. And, what about those who cannot find work? Capitalism leaves the average working-class family without affordable healthcare or a pension to retire on. Do we let those citizens perish? Well that’s what social Darwinism would vouch for.

The very foundation of our country is based on the philosophy of John Locke. John Locke believed that government’s only job is to protect our natural rights, which Americans express as Life, Liberty and the Pursuit of Happiness. The foremost of those rights is LIFE. Our right to live is undeniable; our government should protect that right.

If our government lets families perish without healthcare, than we are destroying one of our core values! “Capitalism means the complete separation of economy and state. Capitalism is the social system based upon private ownership of the means of production, which entails a completely uncontrolled and unregulated economy where all land is privately owned” (Darren).

One of capitalism’s greatest flaws is that it underpays some in order to overpay others. In addition, capitalism seeks to employ the least number of employees needed, at the lowest wage the market will bear. It forces the workforce to compete for positions; so the workforce is compelled to give up more private time. While some will say capitalism brings us low interest rates and high standards of living, these benefits are for those who have been overpaid at the expense of those who were underpaid.

Socialism on the other hand, brings more personal time to commit to one’s family. Capitalists argue socialism results in higher unemployment; but, the opposite seem true. Socialism employs more people who have to do less.

Socialists argue that the inequalities that exist in our society are unjust; and control over vast amounts of the wealth that all workers contributed in producing should not be limited to an elite few. “Socialists hold that capitalism is an illegitimate economic system that serves the interests of the wealthy and exploits the majority of the population. As such, they wish to replace it completely or at least make substantial modifications to it, in order to create a more just society that would reward hard work, guarantee a certain basic standard of living, and extend economic and cultural opportunities to all” (wikipedia).

The benefits of capitalism seem superior to those of socialism until one realizes that those greater benefits are gained at the expense of someone else. Therefore, I proclaim I am a socialist. A community plays a huge role in the happiness of an individual. We cannot have that community if we do not protect each individual. Capitalism punishes that portion of the population who were not given adequate opportunities to succeed. Capitalism is social Darwinism. Capitalism is a dog eat dog world, it’s “survival of the fittest” motif is what justifies the continued exploitation of the masses.

As Americans we can do better than that. Socialism fulfills the central American tenet that All People Are Created Equal.

 

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