Economics

Why capitalism trumps socialism

Sadly, the argument that capitalism is superior to socialism is one that has to be repeatedly made. Despite the evidence of history, socialism is still touted as a viable economic system by idealists and the naive.

Socialists probably have good intentions. They want to make the world a better place. They see inequalities and injustice and seek to alleviate these things using the most straightforward path possible. According to socialists, society needs to be reformed, people need to change, the rich need to share their wealth, things need to be made more fair. But the road to hell is paved with good intentions and measures designed to make the world a fairer place, often have the opposite effect.

Socialism requires that everyone must agree to operate within it, or be forced to. Administering collective ownership of the means of production, requires administrators. People who must make decisions on the behalf Read the rest

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