To discuss or to judge whether something is working properly, you need criteria to measure. Apples fail miserably if their goal is to hunt goats, but if their objective is to provide healthy nourishment they succeed brilliantly. What are the goals of capitalism and socialism?
Capitalism has no goal other than non-interference in people's voluntary transactions, although many people seem to think the goal of capitalism is material wealth.
Socialism's goal seems to be to take from people who've earned and give to those who haven't and also to take everyone's rights and grant them to government, although many people seem to think the goal of socialism is fairness.
To be fair, everyone wants fairness. Freedom-lovers (capitalists) truly believe that it's fair to get what you deserve----what you earn.
Authority-lovers (socialists) truly believe it's fair to get what everyone else has----what government oligarchs decree your "fair share" is.
Have I gotten anything wrong?
Well I guess I take issue with almost every assumption you categorized here. In my life experiences Capitalists are not Freedom-lovers and Socialists are not Authority-lovers necessarily. You are rehashing old thinking here that is based on nothing in actual real world experience. I would put it more like this: Capitalists are most interested in Self and hoarding, Socialists have more attention on Sharing as community. We are tribal by nature and personally I see acts of sharing and caring in our communities is as important as making and producing. There have always been better hunters and makers within tribes, but that doesn't mean you hoard everything to yourself when the elders need some soup and a new winter coat or boots. When you are an empathetic and conscious human being, sharing your bounty with others is a gift. A gift to you and gift for the recipient. But I believe in the goodness of humans at the most fundamental level. Unfortunately, or current post-modern digitally isolating day to day existence fosters a view of the world which is meme, separate from our natural tribe and community. It is time we think outside of this limiting capitalism vs socialism conversation box. These are made up concepts and I believe it is time for new looking and creating when it comes to evaluating and implementing societal economic possibilities. Just my pov. take care, oc
ps. google 'caring economics' and Riane Eisler's Partnership Way and 'The Real Wealth of Nations' to expand your thinking on the subject..... oc
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