Socialism Debate

History and Debate of Socialism

Socialism is a type of economic system in which society as a whole controls production and manages the economy. Under this type of economic system, goods and services are provided directly for use, instead of sold for profits and traded freely. Accounting is done in terms of physical quantities of goods and services, and distribution of the produced goods is based on an individual's contribution to the economy as a whole. There are many forms of socialism, the most familiar of which arose from the societies created by Marx and Lenin in Soviet Russia. Socialism often goes hand-in-hand with a communist government, but the distinction is that communism is a form of government while socialism is an economic system.

Pros of the Socialism Debate

Those who argue for a socialist economy in the socialism debate believe that this system allows the government to better ensure the survival of its citizens by providing for them in every way. Those who cannot participate in the economy because of disability or other ailments are still cared for by the government. This is not always true in nations where the responsibility of caring for the disabled is placed on the family. Those who support socialism also argue that because everyone's personal needs are met under this system, it offers more opportunities for citizens to pursue educational endeavors in math, arts and science. This promotes a more educated society.

Another reason why some people believe socialism is the ideal economic arrangement is that it prevents the rich from exploiting the poor because there are, technically, no rich and no poor. As long as the ruling group is fair, everyone gets a fair and equal chance in life.

Cons of the Socialism Debate

One of the main reasons that many people argue against the socialism debate is that the ruling party rarely ends up treating all citizens fairly by making the decisions necessary for everyone to get that fair and equal chance. A higher social class still does emerge; the ruling government has all of the power, and citizens effectively have no say in the economic pursuits of the nation.

Many people are also of the belief that it is a basic human right to own private property, control one's own destiny and compete in the business world. The economic planning associated with socialism is an infringement on individual liberty. Others also argue that this type of economic system is infeasible because those in power lack the information to even perform the calculations used to determine production needs and such. There are no price signals like there are in a free market economy.

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Against Socialism

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