Castro Vows Cuban Socialism to Survive Bush
So, I briefly read this article and wonder to myself, what exactly is socialism.
Socialism: Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy.
Capitalism: An economic system in which the means of production and distribution are privately or corporately owned and development is proportionate to the accumulation and reinvestment of profits gained in a free market.
What is so bad about Socialism then?
In a word, POVERTY!
Free enterprise rewards those who meet the needs of the consumers, thereby encouraging efficency, new/better products/services.
Socialism rewards those who meet the commands of the planners.
Where free enterprise exists, the standard of living improves.
Where socialism exists the standard of living stagnates.
Suggest you read Adam Smith's The Wealth of Nations, or just look at the world and see that the more socialist a country is, the poorer it is on a per capita basis. I have to same 'more' because no county can long survive if it does not include some private enterprise (the Soviets depended on private plots to feed their country, as well as imports from Capitalist nations).
In short, free enterprise rewards those who work productively (i.e. the size of the 'pie' is increased) while socialism is concerned with DISTRIBUTION of a pie which doesn't increase.
