Nerv14

You were using the definition of "equality" as in the poorest people have the most amount of money, when "equality" means everyone has the most similar amount of money. Look at this quote from the article
you just used a words too inpercisely again and altered its definition.

" “Sure, there’s more wealth inequality,” the concession goes, “but even the poorest people are much better off with capitalism than without it.”
Let’s not be so quick to grant that capitalism creates greater wealth inequality. "

It says "there is more wealth equality" This is a quote of the article directly refuting what you just stated about it.

I actualy wrote the same thing in an earlier post because the free market gives a larger amount of wealth to lower income people over a long period of time over socialsim, but it still isn't as EQUAL as socialism.

But the point is what does it matter how much money the people above you have as long as you have the most amount of money possible.

"Every reform movement has a lunatic fringe."

-Theodore Roosevelt


Defensor's analysis of Barack Obama, Democratic nominee for president of the United States:

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Ausinus

Socialism > Communism? Lol.

Vote for Social Democracy!

And man said, let there be light, and he was blessed by light, heat, magnetism, gravity, and all the energies of the universe.

Merantes

There are several practical matters not discussed by posters on this thread.

1. Incentives. True, there are incentives other than financial. However, no one has argued how these other incentives are superior or can be superior to financial reward. Are any more or equally generalized than financial reward? In a system with at least a capitalist component, most people can understand and be responsive to a financial incentive to be more productive.

2. Without financial incentive, how can people be motivated to do tasks that are generally unattractive: cleaning toilets, collecting garbage, mining, etc?

3. What are the incentives AND mechanisms to create new businesses, particularly new TYPES of business? Most social-based arguments presented here seem to assume a steady state economy, having only established technologies and to a lesser extent, established companies.

There are more examples, but three is enough to discuss for now.

2. How

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What's up, Doc?

Nerv14

Exactly, those operations can't be properly carried out under socialist economic systems and that is why true socialism is inherently flawed. There could be insentives to work, but many of those would just involve threats made by the government.

"Every reform movement has a lunatic fringe."

-Theodore Roosevelt


Defensor's analysis of Barack Obama, Democratic nominee for president of the United States:

Zarathustra

Equality at the expense of others is tyranny.

The first lesson of economics is scarcity: There is never enough of anything to satisfy all those who want it. The first lesson of politics is to disregard the first lesson of economics.
- Thomas Sowell

Barrack Hussein Obama is an evil terrorist

Vote for John McCain cuz he's a war hero and if you don't you're a commie