Is Socialism a good idea?

A long time compassionate friend recently told me they were a socialist. They seemed quite proud of this title. I think my response was “ugggh that’s too bad” and the subject was quickly changed. I wasn’t surprised this friend now claims to be a socialist, they have for years preached progressive talking points. The next day I thought about the declaration of socialism of my friend, and wish I had taken the time to ask “why, I am mean really why?”. When has socialism worked? I understand the fairytale dream of socialism, everyone gets everything they need, everyone is equal, there is no “evil” business profiting, everyone shares in a utopian society. Really, it sounds great. But again, when has it worked? Are the people in socialist countries treated equally? Yes and no, there is a working class that is treated like slaves by the ruling class (which is usually government officials and criminals). There is no hope of changing your lot in life because the government does not reward innovation or hard work, in fact you are punished for trying to improve yourself or solve a problem.
Capitalism in the United States is flawed, but still is the best alternative. There is an incentive to create new products and technologies (yes for profit), but these inventions lead to breakthroughs in medicine, transportation, communication, food production, clean water production, energy, etc. What did the former Soviet Union develop that bettered the life of their people or the world? I can’t think of anything. What about any of the current socialist countries? Again, nothing. Furthermore, because of the wealth capitalist societies have created for themselves, they are able to give money and resources to socialist countries who can’t afford to feed, clothe or shelter their people. What would happen to all the third world countries ravaged by civil war, famine, disease and natural disaster? Would Cuba send resources to those countries? No, because socialist Cuba does not have any resources to give. No socialist country has ever had the wealth to “do good” on a scale remotely close to that of the United States. The little wealth that is created in socialist countries is stolen by corrupt government officials.


So great, be a socialist, turn the country socialistic and 90% of the people will be treated equally bad, and 10% of the new “ruling” class will live off the meager wealth created by a people who have lost all ambition, hope and desire. I just hope my friend is one of the 10% when her dream comes true.

If you haven't read it yet, check out the new book from Steve Forbes How Capitalism Will Save Us: Why Free People and Free Markets Are the Best Answer in Today's Economy hopefully it was convince you, or maybe a delusional friend that capitalism really is good.