Understanding Words

What is socialism? It sounds bad but I went in search of definitions. Merriam-Webster states: "1: any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods2 a: a system of society or group living in which there is no private property b: a system or condition of society in which the means of production are owned and controlled by the state3: a stage of society in Marxist theory transitional between capitalism and communism and distinguished by unequal distribution of goods and pay according to work done."

A stepping stone to communism. That can't be a good thing for society as a whole.

Another source had examples in history and some ideas of how it will play out in the US. "Of course, such a definition of socialism is exceedingly vague, but the pursuit of "fairness"—the ultimate goal of socialism—is necessarily vague, given that each of humanity's several billion individuals has a unique view of what "fairness" entails."

As adapted from this site: Imagine that you are factory owner manufacturing cars. Under communism, your factory would be confiscated by the dictatorship and its production managed by a centralized branch of the government. Under socialism, you may be allowed to keep your factory on the conditions that you do not earn an "excessive" profit and that you provide well-paying, spiritually-fulfilling jobs to your employees, allowing each of them a vote in all of your decisions.

Imagine that you decide to manufacture a new type of car. You will have to get the approval of your employees, who have little incentive to give you their permission without receiving anything in return. Additionally, you will have to get the approval of "societal stakeholders," such as the people who live in the same city as your factory who feel that more car production may increase air pollution and decrease their quality of life. Finally, you will have to incorporate into your designs the "helpful suggestions" of government bureaucrats, who exist to promote the social good.

Of course, if the car is manufactured and no one buys it, you will personally absorb all losses. Nor will you reap any substantial reward from its success. You are essentially expected to produce wealth for every one's benefit except your own, to endure abuse and scorn in return. Would you manufacture cars under these conditions? Will GM?

Not many people would, and therein lies the problem with the definition of socialism. It provides no incentive for production and it sacrifices individual economic freedoms for a vaguely defined "social good."

Economic freedom is little loved by most people. Watch what is going on currently. With such disdain, society hates the leaders of large commerce. We are being led to believe that the wealthy are to be hated and that they are the reason for all of our woes. It's a slippery slope when we can blame our bad decisions on someone else.

Freedom means living with consequences. Elections have consequences.

'til later