Wednesday, September 16, 2009

Socialism vs. Capitalism... a quick tutorial

WHAT AMERICANS ARE SO AFRAID OF:

socialism: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods
2 a: a system of society or group living in which there is no private property b:a system or condition of society in which the means of production are owned and controlled by the state
3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done

WHERE AMERICANS THINK WE ARE:

cap·i·tal·ism: an economic system characterized by private or corporate ownership of capital goods, by investments that are determined by private decision, and by prices, production, and the distribution of goods that are determined mainly by competition in a free market

WHERE AMERICA REALLY IS (and has been since the middle of World War II):

state capitalism : an economic system in which private capitalism is modified by a varying degree of government ownership and control

WHICH ISN’T ALL THAT DIFFERENT FROM:

state socialism: an economic system with limited socialist characteristics that is effected by gradual state action and typically includes public ownership of major industries and remedial measures to benefit the working class

So I ask again, what is so TERRIFYING about socialism? Considering that’s essentially what most of the industrialized nations of the world are… not to mention the United States of America. Methinks people haven’t been paying very close attention.

2 comments:

urbanfrugalchick said...

Great Post..very informative. I question that myself, your definitions helped for sure!

Blackberry Molasses/The Rebel Intellectual said...

Thank you kindly. I'm just a person who pays attention. Ti's all.
And welcome. Hope you come back.