Should the United States capitalistic system convert to a predominantly socialist system?
The age-old debate that was initially sparked by Karl Marx’s Communist Manifesto.
I admit that capitalism is heavily flawed, but any alternative economic system is worse and should not be implemented in the United States.
Socialism has never worked.
Now, a common argument for the left is socialism has worked in Nordic Countries. They claim that because Nordic countries are economic successes, we should follow in their footsteps.
Now, here’s the problem with comparing countries with other countries. It’s inaccurate because of the different variables between countries. However, one of the most important variables is the population. The United States population is 325.7 million people and growing. The combined population of the 5 Nordic countries is 27.06 million. Therefore, the Nordic model does not apply to a country with over twelves times its population.
Second, the Nordic countries are not socialist.
Socialism is defined as a political and economic theory of social organization which advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole.
First of all, the Nordic countries’ government do not have minimum wage laws. This is important because private corporations have the capacity to determine wages based on the worth of their work and not what the government perceives as fair. Thus, making it more of a capitalistic market.
Secondly, looking at the countries with the most economic freedom, America is 12th out of 195 sovereign states. Sweden is ranked 27th. Numerically, that is only 5% less than America. Therefore, with this economic freedom, private industries are growing within the free market.
I believe Nordic countries are misconceived to be socialist because they are offering free healthcare and mostly free colleges. Both of these are socialist concepts. However, just because a country has socialist ideas does not mean the country is socialist overall. For example, America has minimum wages laws, but the country is capitalist. Second of all, free college and healthcare are regulated, but not to the extent that it interferes with the private sector of the economy.
If someone wants an accurate depiction of the effect socialism has on a country, look at Venezuela.
In 1999, Hugo Chavez became the president of Venezuela. He claimed that poverty in Venezuela was the result of evil capitalistic corporations. He tore up treaties with leading oil and gas companies and implemented an immediate government seizure over the companies. His justification was that the government can rule these companies better than the companies themselves. He said the profit he made from these companies will be shared. As expected, the companies left because of the high taxes Chavez implemented. By the end of his term, the poverty rate was 76%. Inflation increased making Venezuela one of the poorest countries in the world. The country is running desperately low on food and medicine.
This is the reality. The true aftermath of socialism. And this is just Venezuela. What socialists want is a full switch to an absolute socialist state. If there is one good thing that came from Venezuela is that it served as a test on what socialism really does.
Socialism is like heroin. It feels good and looks promising in the beginning. Then, it destroys your body and sometimes kills you.
The American people need to realize that socialism does not work. Yes, they can spend their days nitpicking the flaws of capitalism, but any alternative would be worse.
I am open to any conversations and debates about the topic. You can contact via messages, Instagram, or email.
Remember, let’s be polite; let’s be respectful, but most of all, let’s be outspoken.