Socialists economy is an economy whose means of livelyhood is dictated by the government. The word "livelyhood" connotes modalities of production, output and distribution. What we are saying is that the government is the chief owner of businesses in a such an economy. The literal opposite of socialism is capitalism. Here every dick and harry is free to chief-own business or businesses. They both have inherent in them advantages and disadvantages.
Without getting us too burdened with concept that might deviate us from the actual focus (ills of socialist economy),i want to pen down down my submission as regards to a socialist state.
In a socialist state, the government offers everyone equal choice as well as some considerable level of equity. In essence, The believe anchors on the fact that resource allocation is efficiently given to all.
To the poor, this is sought of cool since equality glues together the already widened gap between the haves and have not. I know that this doesn't seem OK for the bourgeois. You do know that humans ain't equal in terms of capacity right? If this is true, why should the government equalize a man who is an entrepreneur and another who is only but a job seeker? Why should the government tax me more because I make more more money than my neighbor?
Here is a story I once saw from an American commentary. in a particular college class, there was President Judge Bush, Hillary Clinton, Jeff Bush, Putin,Barack Obama and his beautiful Michelle and several other individual.In that class, a test was given and as expected, some got higher and some others got lesser scores. The college teacher thought of rescheduling the test again but Little Obama had a better and smart idea.
He suggested to the teacher that everyone's score should be added up after which an average score should be given to everyone. Again as expected, those who scored more cried foul and those who scored less loved the idea. Those who were already on the average really had nothing to loose and so they all opted for the adoption of little Obama's idea.
Overtime,in each test, it was discovered that the class average was dropping low. "There must be some reason to the gradual fall in the class average" the teacher thought aloud. He later discovered that those who did exceptionally well prior to Obama's smart idea had stop doing well because they lacked motivation and each one expected to rely on the other's score.
Here is what socialism does, it discourages innovation, entrepreneurship, development because everyone wants to get an equal bite from government bounty. Is capitalism any better? O yes! Only those who have teeth are allowed to bite. Those who don't have teeth will always rely on those who can bite to feed them. In a nutshell, I think socialist principles such as transfer earning, employment scheme, food stamp, thirty thousand allowance and all of that are trash. Does that means that the government should have no business in businesses? No! Government should be employed to fill in for the masses in areas of regulation and supervision of capitalist excesses.These role could be in form of price ceiling, price floor, social infrastructure, efficient and effective environment, friendly policies...




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