There are many differing opinions and beliefs regarding America’s economy.
The ongoing dialogue regarding a capitalist or socialist society can raise tempers.
Socialism seeks to regulate and redistribute wealth. Government holds control over decisions. They provide employment and there is no private property. Socialism exists as a primary system or in certain sectors like healthcare and education.
Accordingly, a capitalist society encourages resourcefulness and personal growth. Individuals have privacy. They run businesses without government intervention. Entrepreneurism is possible for any person. The people determine supply, demand and price.
I believe in a free market society because I see this system as one that promotes creativity, freedom and opportunity.
Individuality is praised, not squashed. Entrepreneurs’ freedom enables their minds to think and dream and create. When government steps in and takes away free choice, they are essentially punishing freedom of expression and thought.
Under a socialist economy, work is for a collectivist whole. This kills incentive to create. Financial Samurai, a personal finance blog, recounts a play on Aesop’s “Ant and Grasshopper” fable:
“The ant worked hard all summer collecting food and preparing his home for winter. The grasshopper played all summer not doing any work.
When winter came the grasshopper had no food. No worries, the grasshopper elected a socialist leader that took away 40 percent of the ant’s food and gave it to the grasshopper.
The next year the ant decided that the new government would take care of him the same way so he played all summer too, as did all the other hard working producing ants.
When winter came, there was no food and they all starved to death.”
A free market calls for free will. The people make individual choices ranging from business, religion, education and health based on what they personally require.
Socialist advocates say socialism works in the interest of the people but I see it as working in the interests of those managing the socialist state. How can something be for you if your personal freedom is denied? Following this thinking, does socialism propose we are not capable of making decisions and do not know what we want?
Regarding opportunity, the free market allows people to work as hard as they desire. The fruits of their labor are their own. Socialism takes this opportunity away and redistributes rewards and losses. Would you like to give a piece of your GPA away to a student that isn’t working as hard in order to even the playing field?
I fully believe in and support helping and providing for those in need. I am an advocate for advancing inequalities. But NOT when it becomes mandatory based on governmental rule.
For example, mandatory redistribution of wealth misses the entire concept of showing compassion and caring for those in need. Businesses and people forced to provide for others is not giving of a cheerful heart. And giving unto others is not giving unless it is a gift from the free will.
Power is seductive and Communications professor Stan Deetz (pro-capitalism) emphasizes this in his “communication in organizations” theory. Deetz says corporations hold incredible power over society and are run by a few people.
A socialist economy fits what Deetz says corporations are guilty of in a capitalist economy.
He proposes stakeholder democracy which allows all who are affected by the company to have a voice and collaborate together in decision-making.
Translating this concept onto a national level, people now exercise their personal demand for a supply instead of coerced into a blanket mandate.
Socialism takes away this chance of communication. But a free market economy allows the space for participants to communicate and decide what is best for them as individuals and the greater society.
