Socialism VS. Capitalism

Discussion in 'Politics' started by shintao, Feb 27, 2011.

  1. shintao
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    shintao Take Down ~ Tap Out

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    I found this article useful to show major differences between Socialism & Capitalism 101

    Socialism vs Capitalism

    Socialism is a form of economy that works for equality among the members of society by pooling the resources of the people to be collectively controlled by the state or the public through communes or councils. There is no market in a socialist economy and therefore, there is no competition. The quantity of products produced and distributed is regulated, including the price that the consumer will pay for the products.
    Capitalism, on the other hand, is an economic and political system that is based on the principle of individual rights. It believes that it is inequality that will drive the people to be more innovative and productive. Resources in a capitalistic society are privately owned by individuals or groups of individuals. These individuals or groups of individuals freely trade in a market that has a level playing field. The government stays in the background and allows the forces of supply and demand to freely operate with the guidance of laws and regulations. The law of supply and demand provides that if the supply is greater than the demand for a particular commodity, the price of that particular commodity will go down. Conversely the price of a commodity goes up if there is less supply than the demand.

    In socialism, the wealth or the goods and services are distributed to the people based on the work contribution of an individual to produce such wealth. Socialists believe that if individuals work for the sake of everyone in society and receive all the goods and services, work ethics will be heightened.


    People, on the other hand, are given equal opportunity to work for their own individual wealth in a capitalist society. Individuals are presumed to be naturally competitive. It is their competitiveness that will drive them to improve. Individuals or groups of individuals in a capitalist society decide on the quantity, quality and price of goods they will produce and sell in a competitive market in order to get the amount of wealth they want. No limits are set to what an individual can earn. This resuls in people having different social status based on the wealth they have accumulated. Thus, there are rich and poor people in one society. Advocates of socialism believe that this is dangerous because the accumulation of wealth by a certain few gives rise to dominance that could lead to the exploitation of people with lesser wealth.Summary:

    1. Socialism is an economic system based on the principle of equality while capitalism is an economic and political system based on the principle of individual rights.

    2. In socialism, wealth or the goods and services are equitably shared by all members of society based on the individual’s productive efforts while in capitalism, each individual works for his own wealth.

    3. Socialists believe that the work ethics of an individual will increase if he receives the goods and services he needs when he works for everyone else while capitalists believe that it is man’s nature of being competitive that will drive him to work more for more wealth.




    Read more: Difference Between Socialism and Capitalism | Difference Between | Socialism vs Capitalism Difference Between Socialism and Capitalism | Difference Between | Socialism vs Capitalism
     
  2. washamericom
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    washamericom Gold Member

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    this reads nice...
    some restaurants' servers pool their tips together, so at the end of the shift the worst server and the best server get equal pay.
     
  3. Oddball
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    Oddball BANNED Supporting Member

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    Now there's your race to the bottom.
     
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  4. washamericom
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    washamericom Gold Member

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    i know, dare to dream
     
  5. PoliticalChic
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    PoliticalChic Diamond Member

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    A nation can have equality or prosperity...not both.
    Make up your mind.

    The meaning of ‘equality.’
    1.The Declaration of Independence memorializes the proposition that all men are created equal. At the time, the ambiguity of the phrase allowed even slave holders to find it informing.

    2. But, clearly, the document was understood at the time not to promise equality of condition- even to white male Americans! Equality, as an abstract, was modified by the American idea of reward according to achievement, and a reverence for private property.

    3. But the concept has been modified with the growth of modern liberalism, and the ‘egalitarian’ impulse that fuels it. Here we witness the constant expansion into areas in which equality of sorts is seen as desirable and/or mandatory. The intuitive de Tocqueville actually remarked that Americans loved equality more than freedom!

    a. "The principle of equality prepared men for a government that “covers the surface of society with a network of small complicated rules, minute and uniform, through which the most original minds and energetic characters cannot penetrate, to rise above the crowd. The will of man is not shattered, but softened, bent, guided…Such a power stupefies a people, till each nation is reduced to nothing better than a flock of timid and industrious animals, of which the government is the shepherd….The evils that extreme equality may produce are slowly disclosed; they creep gradually into the social frame; they are seen only at intervals; and at the moment at which they become most violent, habit already causes them to be no longer felt.” Alexis de Tocqueville, “Democracy in America,” volume 2.

    4. Under the new definition, an exact similarity of material wealth or income should be the goal of ‘social justice.’

    5. By the 20th century, the new ‘equality’ became a threat to freedom. FDR’s New Deal and Truman’s Fair Deal claimed the rectification of inequalities as within the purview of government. LBJ’s Great Society championed the redistribution of wealth and status in the name of equality. Realize that the concomitant movement toward collectivism meant a decline in the freedoms of business, private associations, families, and individuals.

    6. The accession of these views, equality vs. freedom, means that there can be no free market, for that would always result in inequalities.

    A far better exposition of this idea can be found in Bork, "Slouching Toward Gomorrah," ch.4.
     
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    Last edited: Feb 27, 2011
  6. Intense
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    Intense Senior Member

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    Every system needs maintenance, repair, and fine tuning. The establishment of Justice, more relevant than Equal Outcome. You seem to be trying to compare the best image of Socialism, to Unregulated Capitalism, or the worst image of Capitalism. There is no Justice in Equal Distribution, only Servitude and playing the system..
     
  7. driveby
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    Everyone does not and will not work equally hard, thank you, drive thru........
     
  8. Agit8r
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    Agit8r Gold Member

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    Sorry, but the statement "There is no market in a socialist economy and therefore, there is no competition" is not really realistic. There is a reason that we have a Russian Mafia, after all
     
  9. washamericom
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    washamericom Gold Member

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    you see what's happening in cuba
     
  10. kaz
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    kaz Diamond Member

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    Agreed. Winston Churchill: "The inherent vice of capitalism is the unequal sharing of blessings; the inherent virtue of socialism is the equal sharing of miseries"
     

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