Free Market Capitalism vs Socialism
Debate Rounds (4)
Free Market Capitalism - Free-market capitalism refers to an economic system where prices for goods and services are set freely by the forces of supply and demand and are allowed to reach their point of equilibrium without intervention by government policy.
Socialism - a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
cookie1 forfeited this round.
Such inequality is appalling , it can by no means be justifiable that an ordinary laborer who works equally as hard, or harder than a CEO should struggle for his survival while the CEO lives in ludicrous luxury. In socialism, production and wages are directed to human needs, there is consequently no need to maximize profit and thus gross inequality wouldn't exist. (4)
Capitalism always acts on the cost of nature and its ecological balance in it's never ending hunt for new markets . With its imperative to constantly expand profitability, it exposes ecosystems to destabilizing pollutants, fragments habitats that have evolved over time to allow the flourishing of organisms, squanders resources, and reduces nature to the exchangeability required for the accumulation of capital. Socialism requires self-determination, community, and a meaningful existence. Capital reduces the majority of the world's people to a mere reservoir of labor power while discarding much of the remainder as useless. The present capitalist system cannot regulate, much less overcome, the crises it has set into motion. It cannot solve the ecological crisis because to do so requires setting limits upon accumulation of capital
A truly "free market" , would destroy our species as well as the environment. It's well known among economist that markets are inefficient say I am buying a car from you we only think about whats good for us the harms the car produces are considered an externality. The market actually limits choice, lets say I wanna get home at night from work, the market offers a choice I can have a Ford or Volkswagen etc. it does not offer me the subway system, what I want, whats good for me,whats good for the environment and whats good for my (possible) future children markets only offer individual consumption. Markets are supposed to be informed consumers acting rationally the P.R industry's job is to undermine markets to make uninformed consumers and the corporations keep the useful bits of market theory for profits.
1 The World?s Billionaires: #1 Warren Buffett. (2008, March). Forbes.
2 Hunger. (2011). World Food Programme. Retrieved June 7, 2011
3 Engels, Frederick. (2005). The principles of Communism. Marxist Internet Archive. Retrieved June 7, 2011
4 Marx, K. (n.d.). Critique of the Gotha Programme: I. Marxist Internet Archive.
Now I will argue that capitalism is more efficient and innovative. In a socialist system why would anyone feel the need to be innovative and to create new ideas if they are already getting a steady income and its being shared between the workers equally and no one is trying to earn a profit. In capitalism innovation is key to surviving in the free market, several companies trying to get the most profit by making new and better products, e.g. apple's iphone changed the phone business and thus
they were rewarded with lots of sales and profit and this improved the wages of the people working at apple.
"this while one in seven people on earth goes to bed hungry every night and 6.5 million children die of starvation and malnutrition every year"
And your answer to this is socialism, the answer to this is not theft, the answer is humanitarian aid, also most of these people dying are from African countries not western ones. This is not to say that these stats aren't awful but this didn't happen because of capitalism it happened mostly because Africas farmland is appaling resulting in an economy that basically can't grow.
"it can by no means be justifiable that an ordinary laborer who works equally as hard, or harder than a CEO should struggle for his survival while the CEO lives in ludicrous luxury"
The difference between a CEO and a worker I a CEO has worked their way up thus earning more money as a reward for their previous hard work.
"Warren Buffet's had an estimated net worth of $62 billion in 2008"
"it does not offer me the subway system, what I want, whats good for me,whats good for the environment"
Do you know how economics works? Basic supply and demand, if there are people that want a subway system, a company will make a subway system, if there is demand for an environmentally friendly car there will be a company that supplies an environmentally friendly car.
Also quoting Karl Marx doesn't work in you favour.
Also are you a communist because lots of your sources are from communist sites?
MaesterAemon forfeited this round.
cookie1 forfeited this round.
No votes have been placed for this debate.
You are not eligible to vote on this debate
This debate has been configured to only allow voters who meet the requirements set by the debaters. This debate either has an Elo score requirement or is to be voted on by a select panel of judges.