Why is socialism good and bad? Why is capitalism good and bad?
by 
Ironkettle
ANSWERS: 4
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Socialism creates stability at the cost of production incentive. Capitalism creates competition and growth but can be exploited and unstable. As an example, China is doing a pretty good job with economic recovery right now as their government has pretty much all the power they need to correct the economy while the United States has every sector grabbing for money and a system that favors private interests.
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Socialism or any similar ism is bad because it is based on force, coercion. Capitalism, or at least free enterprise, is based on choice. In fact, let us differentiate between capitalism and free enterprise, because, for example, China could be said to have a form of capitalism, and there is certainly plenty of coercion and initiatory force there. On the other hand, the United States could also be said to have capitalism, but we have nearly lost entirely our free enterprise.
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Socialism is good because it looks out for the most helpless members of society. Socialism is bad because it mandates behaviors in violation of Free Will. Capitalism is good because it is the most powerful economic engine ever developed, and could theoretically make every human being alive into a rich man. Capitalism is bad because when allowed to operate without limits, it allows a few to enslave many with great efficiency.
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Socialism is bad Laissez Faire is good, American style capitalism is a corrupted version of laissez faire, so it is bad to a degree
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