Capitalism or Socialism.

Discussion in 'Politics & Law' started by pro2A, Feb 15, 2009.

  1. pro2A

    pro2A Hell, It's about time!

    There has been some debate lately about which is better, Capitalism and Socialism. Personally I am a pure Capitalist. I believe an economic system left unmolested by the government is the best form of economy. It empowers people to better themselves as there is no limit on wealth creation.

    Lets look at the pros and cons of Capitalism.

    The Pros of Capitalism link to source

    • You are free to make your own choices (right or wrong) in the market place.
    • You own your life and the means to produce for your life.
    • You can choose to run your own business or get a job with ease of government regulation.
    • As a consumer, you get the highest quality of products for the cheapest prices.
    • As a consumer, you get the highest variety of the types of goods and services you can purchase.
    • You are free to innovate and invent without the government getting in your way.
    • You don't have to pay taxes beyond that of the basics to protect your rights (police, courts, national defense, etc).
    • You vote with your dollars. If you don't like a particular store, you can always shop somewhere else.
    • You have the right to own property, which comes with the right to develop it as you choose.
    • You have the right to earn as much money as you want without having to answer to the government.
    • Capitalism has given the highest standards of living this earth has ever seen and no other system has ever been able to do this
    • Capitalism recognizes your right to pursuit of life, liberty and property.
    The Cons of Capitalism

    This is basically how I feel about Capitalism. Is it sad that there are bums on the streets? Yes, sure it is, but one needs to look at the underlying reasons why they are there and what economic system got them there in the first place.... Socialism.

    The Pros of Socialism

    • The average person not being asked to provide or pay for any of their basic needs.
    • The government will provide for all of those necessities with a, 'one size fits all' approach. From housing, to health care and even employment
    • There is no need to take care of these basic things yourself – because under a strict socialist government structure, all of the basic needs in life are provided by the federal government.
    The Cons of Socialism

    Socialism may sound good on paper, but from what I can find (and believe me I tried to search for the pros of socialism) it only makes people worse off. If you are given a check your whole life, or are raised in subsidized housing and end up being a bum on a street, its can be directly related to a socialistic approach on society. If the poor are given everything, they have no incentive to rise out of poverty. If it is taken away, suddenly they need to find a job to support themselves which in turn creates more profit for companies who are trying to compete in the market.

    Please feel free to add or deduct from this list as you see fit.
    Last edited: Feb 15, 2009

  2. Stab-o-Matic5000

    Stab-o-Matic5000 Cutting Edge in Murder

    There's been a debate about whether Capitalism or Socialism is better on the boards? I haven't seen it. I've seen a debate about whether a regulated capitalist system or an unregulated capitalist system is better, and a debate about whether the government should fund projects or not.

    Socialism involves direct government control of business. I'm fairly certain most people in Serious Discussion will agree that everything being in the hands of the government is not a good thing.

    However, I have to add a con to the idea of completely unregulated capitalism. Unfair treatment to lower class and middle class workers. You've heard of the "robber barons" of the 19th century, correct? How people would work themselves to death in coal mines for small amounts of pay? That, in my opinion, should definitely be avoided.

    In my opinion, purely unregulated capitalism and pure socialism are quite similar, the main difference being who holds the reins of the economy and the well being of the people. In the former option, it's the wealthy elite. In the latter option, it's the government.
    Sim and pro2A like this.
  3. Bananas

    Bananas Endangered Species

    Considering there has never been a purely capitalist or socialist nation to compare together its a difficult comparison. The closest we have ever seen to absolute capitalism is probably modern day Hong Kong, the closest to pure socialism; maybe Russia towards the end of the second five year plan.

    That has nothing to do with capitalism.

    Capitalism does not give anybody the right to have anything, it gives the opportunity to pursue these things.

    The first statement is more socialist than capitalist, as the right to have something displays a high degree of equality which would fit better to a egalitarian philosophy.

    As you failed to provide them, here are;
    The cons of Capitalism:

    Class system
    Market Instability
    Corporate corruption
    Corporate negligence
    Coportae dictation
    Adventual singularity
    Materialistic ethics

    Your logic defies me! In your quote;

    "Everyone is given the same level playing field and everyone can play."
    Capitalism is not egalitarian, socialism is.

    Capitalism does not provide a level playing field, it creates a class system where the world we are not born is not equal, we are born to our forefathers success. It is the exception and not the rule that people defy this. If you are born in a trailer park you will most likely die in a trailer park.
    First one is incorrect, in socialism everybody is asked to provide & pay for everybody elses, including your own basic needs.

    Second one is Communism and not strictly socialism

    Third one is incorrect based on the first one being false information. Federal Government provides the infrastrusture but the workers must provide the goods and so to say "they dont need to take care of these basics" would be wholeheartly wrong. They still need to provide them but what they provide is then distributed.


    I think before this Divisive Issue thread continues we have to be decisive on what Capitalism and what Socialism are because there seems to be some misunderstanding.

    WIkipedia, its not an academic source but its fairly reliable for summarising:



    The difference between these to statements are the first "Privately owned" the second "State ownership". The primary difference between the two economic systems; One is run by a government the other is run by a corporation. Most of the pros and cons displayed above can fit both economic systems, they're not exclusive to either. sure some are more prone to happen in one ot other but the only real difference is who dictates it.


    As for the intial pros and cons it is better to conclude your own than use unreliable and wholy bias sources so you can use fact rather than opinion to present an arguement:

    "I think it is pretty apparent that capitalism is the best social system in existence....."


    "While I do not believe that socialism is a good system of government...."
    Swiftstrike, Sim and ysabel like this.
  4. Sim

    Sim Registered Member

    As Bananas said above, I don't think you'll find anyone on this board who advocated genuine socialism (a system where private ownership of the means of production are illegal and all companies are run by the state).

    I too advocate capitalism, but I think it needs to be tamed and corrected by certain social regulations.

    Socialism is inefficient and does not provide a better life for the people, as the example of the USSR and its Eastern Bloc have proven. Free markets are much more efficient at allocating sparse resources than any government planning commission could ever be.

    On the other side, I believe capitalism also has certain grave flaws: It results in extreme inequality, horrible social side effects and it does not reward hard work, because in capitalism, you are "paid" not for the work you do, but for the possessions you have (when you have few, it's very hard to get more, but if you have much already, it's very easy to make even more).

    So I say capitalism, hands down, but with a social safety net to make sure nobody falls off the cliff.
    Bananas and Stab-o-Matic5000 like this.

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