The Instigator
micellio
Pro (for)
The Contender
Eve9732
Con (against)

Capitalism vs. Socailsm

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Voting Style: Open Point System: 7 Point
Started: 4/17/2017 Category: Economics
Updated: 9 months ago Status: Debating Period
Viewed: 799 times Debate No: 102019
Debate Rounds (5)
Comments (6)
Votes (0)

 

micellio

Pro

Capitalism is in reference to the free markets without government interference based on the works of Adam Smith and the Austrian School.
Socialism is the government interference and partial control as a mesh of the Keynesian and some Marxist ideologies.
I want an open debate and discussion,
Eve9732

Con

Great efficiency - Economic efficiency under socialism means that production decisions are controlled and regulated by the central planning authority towards a particular goal.
Greater social welfare - In a socialist economy there is less inequality of income because of the absence of private ownership of means of production.
Absence of monopolistic practices
Absence of business fluctuations - A socialist economy coordinates the action of various producing units, prevents discrimination between saving and investment and makes full use of available resources.
Debate Round No. 1
micellio

Pro

Based on the teachings of Adam Smith and expanded on by the likes of David Ricardo, Thomas Malthus, and James Mill the free market has been the greatest creator of individual wealth and social development the world has ever seen. The free market system has been a beacon of freedom elevating the lives of everyone who lives under it. Often criticized for being "greedy" or "unfair" a capitalistic society rewards people based on their contributions to society by giving everyone an equal starting point and allows everyone to advance as fast as they can.

Nobody is freer than people who can live their lives without government interference. Capitalism thrives on open markets and free trade this is outlined in Adam Smith's "Wealth of Nations" where he said

"Were all nations to follow the liberal system of free exportation and free importation, the different states into which a great continent was divided would so far resemble the different provinces of a great empire. As among the different provinces of a great empire the freedom of the inland trade appears, both from reason and experience, not only the best palliative of a dearth, but the most effectual preventative of a famine; so would the freedom of the exportation and importation trade be among the different states into which a great continent was divided."

This passage is looking at the system that was mercantilism showing that there is a better way to increase the wealth among all parties trading in a consensual system with what is today known as free trade. This theory was expanded and better described by Milton Freedman in a video made about the global trading community as you can watch it here. https://www.youtube.com...

The hands of the free market allow for everyone to live a higher standard of life no matter who you are.
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Debate Round No. 2
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Debate Round No. 3
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Debate Round No. 4
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Debate Round No. 5
6 comments have been posted on this debate. Showing 1 through 6 records.
Posted by CaptainScarlet 9 months ago
CaptainScarlet
There is the tendency of the center left and left to offer modernist revisionist re definitions of their favourite hob-goblins. Constantly they are moving the definitional goalposts, because of the total failure of Socialism. It is if they cannot give up on it despite its utter intellectual collapse, so have to redefine it. Socialism was, is and always will be the Public ownership of Capital through the means of production and exchange. Capitalism is the polar opposite, it is the Private ownership of Capital (property rights). Laissez faire capitalism (LFC) goes further in that it is the separation of government from economic matters.

One is fundamentally the forced surrender of property, to a central agency, which apparently knows better than the signals from a market. The other a mesh of voluntary exchanges between individuals, where the prices of goods and services are a proxy for the information relating to those exchanges.

Far from being the stuff of nightmares, there is a good case to argue that it is the government meddling in the efficiency of LFC, that creates the problems that are then percievd to be Capitalisms failures. One only needs to look at the mess created by central banks to know that. And if you thought central banks were capitalist institutions, you would be wrong about that too!
Posted by Travis_Talks 9 months ago
Travis_Talks
Laissez-faire economics are what my nightmares are made of.
Posted by BabyBooms 9 months ago
BabyBooms
The given definitions for the two opposing positions corrupt the debate. First, free market capitalism doesn't exist. It is always "tamed" by regulations. Secondly, the definition of socialism is false, as it says "Socialism is the government interference and partial control as a mesh of the Keynesian and some Marxist ideologies." So it's already biased and tainted by a definition that isn't valid. Socialism is an economic system in which the working class owns, operates, and directs the places where they work. It is "the dictatorship of the proletariat" (over the capitalists) according to Marx. But misconceptions aren't surprising considering the 70 years of intentional confusion spread by anti-socialist propaganda that makes even discussion of socialism, capitalism, and communism taboo. And so most of the comments associated with the debate contain gross factual errors. Correcting these errors in our own minds for our own selves should be the first step before moving on to a debate over falsehoods and errors.
Posted by thatNerd 9 months ago
thatNerd
Are you arguing for Capitalism or Socialism?
Posted by TheMarketLibertarian 9 months ago
TheMarketLibertarian
Nope, Minarchic Laissez-Faire is the way to go
Posted by Travis_Talks 9 months ago
Travis_Talks
Neither pure capitalism nor pure socialism work. Social democracy is the way to go.
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