I am a capitalist. That said I do acknowledge that Socialism is far more fair than capitalism. There's no way to say otherwise as a true capitalist because capitalism is not about hard work it's about smart work; it is having the ambition to be the forerunner in what needs doing versus being the one doing the upkeep.
Capitalism is for Visionaries, but sadly everyone else gets left behind; it is one major failure of Capitalism that I have to admit to.
A lot of misconceptions exist about socialism. The most common one is that lazy people will be given money for doing nothing. This is absolutely false. One of the defining features of socialism is that people are rewarded according to their contribution because they own the company they work at. In capitalism shareholders get benefits without producing anything in the company they own. All the shareholders did was invest money they earned earlier. Capitalism enables you to invest a single dollar and make it a thousand dollars without working; socialism gives the thousand dollars to the people who did the hard work of increasing their company's value by a factor of 1000. SOCIALISM REWARDS HARD WORK, CAPITALISM DOES NOT.
Another common misconception is that socialism eliminates markets. These two are completely compatible. Markets are great because they circumvent any inefficiencies that come with a planned economy. Socialism doesn't prevent economic freedom as far as prices go.
In socialism, all employees own part of the company's means of production, rather than just shareholders- this has never been done before. Much of the failures of Socialist systems come from the fact that usually these governments are centralized dictatorships. A decentralized democratic socialist economy has not really been tried. Thus, most empirical arguments will be invalid.
You might argue some have more inherent right than others to gain from common wealth, but please don't call it "fair". The same excuse has been used for centuries. Aristocrats also had the idea that they were somehow more deserving than others, they invented intricate and ridiculous customs to confirm this to themselves and to better separate themselves from the “others”. Capitalism has somehow gotten the idea that it is fit to run unchecked while all proof point to the fact that it repeatedly can’t control itself, even to not consume itself. There is a place for capitalism in the world, but it is not in human rights and welfare. It better see fit to coexist with people.
In a good socialist society, it's the society/Government which is the main employer. The employee will be paid in proportion to quality and quantity of the outputs and work. On the contrary, in a 'best' capitalistic structure, it is a single person (or a small group of people) of a firm dictate whom to employ or whom not to. It turns out most often, that the capitalist(s) or their henchmen are poorly qualified than the employee. Also consider share/stock market. Such dunces do no meaningful work but can earn fortunes for life. At the same time the workmen toil hard in a field or in a laboratory/workplace. It's well known that in capitalism some amass monstrously high income and it encourages 'live and let die' attitude. Without certain band of equality (in income, for example), there can be no equal opportunity to all (absolute equality may not be achievable even in a socialist country, though). In other words capitalism, especially of a large scale, is unjustifiable.
True, socialism made some big blunders in the past (but it does not mean capitalism is error-free). But socialism gave several successes too. There is a need to reorganize our economic setup and embrace socialism. The mistakes and blunders etc. of the past must not be repeated. For example, there should be a rule something the United States has (a President can serve for not more than two terms). And the powers of head of a country should also have reasonable limits.
What is fair about taking by-force from some and giving to others?
What is fair about a bureaucrat making decisions about who gets what?
How is it fair that the Government is able to tell private citizens how their property will be managed?
The only thing Socialism gives is an equal share of misery. Socialism breeds black-markets. Black markets breed criminals.
If I risk my resources as an investor, why is it fair to distribute any profit with those whom have risked nothing?
Under socialism the individual is meat for the grinder, and most are made to suffer "for the greater good".
I've got 1 life to live, and want to enjoy it to the extent my abilities allow. How is it fair am I obligated to have my production subject to theft? If I work 100 hours a week, year over year, decades after decade, so I can retire early, and enjoy my life, how is it fair to have that effort neutralized?
The only people that would view it as fair are the envious that think they have something to gain by embracing it.
There isn't such thing. All socialism does it slightly boosts the lower class and massively brings down the upper class. When everything is fair, there is no opportunity to advance forward. Those who are hard working cannot get above a set point. So no, I believe it is not more fair.
In theory, it SHOULD be fair, but in reality, it isn't. The ideals themselves seem fair, but corruption ensures that it will never actually work. Look at the widespread poverty found in socialist or communist countries. In those same countries, there are a few wealthy elite who took power and money for themselves, moving the country away from its original aim.
I'm not saying the Capitalism we have in the United States is fair, because it's seriously corrupt and crippled. It is a weird mash between different things, making it quite unfair actually. However, we're discussing these two terminologies in vague terms. By definition of what they really are, Capitalism is more fair. If I work at a restaurant, I don't deserve to earn the same benefits as someone who is worked their butt off to get to the top of a CEO position. Everyone should have equal opportunity, but shouldn't be handed things, or have to share with someone who simply doesn't work hard to get out of their situation. If I'm on social benefits, that means i'm being given free money to sit at home and eat potato chips. Yeah, that's fair....
The word "Fair" means treating all of your citizens exactly the same way cross the board. Socialism already does this by default by eliminating any class or social structures and providing services to all of its citizens. Capitalism inherently by design separates it's citizens on the basis of income (Lower class, Middle class, and Upper class) however, anyone regardless of class has a chance to ascend to the next class. Now whether or not they have the same "fair" chance of ascending is a different story.