Capitalism and Socialism: Enemies or Friends?
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Let's talk about 'capitalism and socialism':
Often pitted against each other by extremists, the perfect system combines the best of each.
In this country there is a fantastic fear of socialism and a socialist state. You can’t get through 15 minutes of Fox News before the fear mongering comes out of someone’s mouth. God forbid someone be a democrat because they can’t be one without being thrown into the ‘socialist’ camp to fear. I understand the fear, however. It’s easy to equate socialism and communism with some pretty opressed times such as Fidel Castro’s Cuba. But are these fears and comparisons accurate and justified in today’s United States? And why is there no mass hysteria about the terrible outcomes that have derived from Capitalist states ran by oligarchs, such as was the case in Europe at one point in the past, which also lead to a very opressed population.
So, history has made it clear that both socialist and capitalist states can lead to opressed people who live in desparation. Perhaps it isn’t the systems themselves to be blamed for such outcomes but the ways in which they were deployed were. Perhaps it’s as the saying goes, ‘Too much of anything is not good.’ After all, there is little effective difference on ordinary people when comparing communisms or a rigid socialist state with that of a capitalist state that goes unchecked and controls its people via a ‘private industry’ intermediary — such is a Banana Republic.
The truth is that neither system is perfect in its own, especially in when being controlled by a leader who lacks understanding and empathy for their people. Words are wonderful but actions are what affect a people. So what does each economic philosophy bring to the table.
Capitalism and socialism are a ying and yang relationship; they are opposite philosophies but symbiotic in nature. The proper deployment of one emboldens the potential of the other.
Capitalism provides societies with the best tool for innovation and economic growth. It’s what allows entrepreneurs to try new things, which fuels the evolution of societal advancement and joy to its citizens to have the freedom to make their own decisions on what they are to do and how they are to do it — freedom to take risk and succeed. But taken to the extreme can be catostrophic to a society. There must be deliberation and deliniation as to what industries are best suited for capitalistic structures within a society.
Socialism provides societies with the best tools to put their people in a position to enter the capitalist system. The downside of a purely capitalist society is that it innately creates a positive loop of success for those who are of wealth. This is what drives inequality between classes. These inequalities trickle down through society across the sprectrum — from job and business opportunities, to education, to healthcare, to quality of life, to levels of despair. To have a productive, growing economy, a society must do the same as any well-ran business — it must take care of the people that do the work. They must be healthy, happy, and knowledgeable on relevant matters. Everybody knows that when employees are treated better there’s a significant increase in productivity. Societies work the same way. When the people that make up a society are healthy, educated, and happy they contribute more. They are more likely to take risks and to be active in their communities. Socialism believes that it is the burden of the state to make sure its population is healthy (healthcare), happy (safe and secure), and relevantly knowledgeable (educated).
Straying to far either way is destructive to a society. But, in combination, they provide a powerful environment for growth and progress of a society. Socialist concepts like the state bearing the burden of making sure its people are healthy, educated, and not in economic despair raise the floor for all of the society. When people and businesses are not independently tasked with the responsibility of the society the barrier to economic growth and business creation is lowered and allows for more competition in the markets. In a purely capitalist world things like healthcare and education lend themselves to the wims of clever accounting and debt and tax manipulations — and end up becoming mechanisms of extortion on the taxpayer — because cornerstone segments of society are the leverage.
What are your thoughts on the United States' handling of the Coronavirus pandemic? Do you have confidence in the United States' ability to handle a future bioterrorism event that may mimic the Coronavirus? Is it time for the United States government to protect its people by issuing a mask mandate?
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