The End Result

Capitalism Vs. Socialism

Earlier this week I said to watch out for my thoughts on this topic… I never posted it that day. But here it is:

Capitalism: An economic system in which investment in and ownership of the means of production, distribution and exchange of wealth is made and maintained chiefly by private individuals or corporations, especially as contrasted to cooperatively or state-owned means of wealth

Socialism: A theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole. In Marxist theory, the stage following capitalism in transition of a society to communism, characterized by the imperfect implementation of collectivist principles.

Reference: dictionary.reference.com

Personally, the economic system I prefer to be in is capitalism. I feel this way because it has proven its effectiveness much more in the United States and other countries that have adopted it versus socialism. Socialism is founded on principles that inhibit individualism, growth, entrepreneurship and even critical thinking of the people. In socialism the government tells the people what they want to do, how they want to live their lives and what to teach our children. A politically active blogger, Justen Charters, said it well:

You’re telling me that a rich guy who makes 500 trillion dollars a year shouldn’t share his 500 trillion dollars with everybody else?

He continued on to “defend” this socialistic thinking playing the part of someone justifying that they should receive part of the money because they paved the road that the rich guy drives his Bentley on. It was refreshing to see that someone else of my demographic had common sense, however, this socialistic attitude is very common in Americans today. Simply put, socialism is an example of “we the government-dependence” (entitlements and privileges over principles), while capitalism represents “we the people” (accountability and responsibility). Unfortunately socialism is being taught today to kids by their parents and the department of education. For example, valuing your privileges over your principles and to be politically correct instead of telling the truth, are what is being taught by society, parents and schools.

Capitalism ensures that the only thing we get a “cut” for is what we work for and we don’t get “free lunches”, but that what we do get are opportunities, if we strive for them.