So, what exactly is Capitalism, and why is everyone calling Mr. Obama a Socialist?
Well, Barak Obama is a self-proclaimed "Progressive" and Progressive ideals generally lead to Socialism. (I wonder if Progressives actually realize that?)
Want to know European Leaderships attitude regarding the free market? Check out this Quote from Jacques Lucien Jean Delors who is a French economist and politician, the eighth President of the European Commission:
"If you don't have collective agreements between unions and employers, governments have to legislate more."
Jacques Delors
WHAT!! Really? Wow, now that's Progressive - Just not for America!
So, What is Socialism?
This stuff gets cloudy real quick, so I'll start off with some general definitions in my simplest terms:
Socialism originated in the late 18th-century from an intellectual and working class political movement that criticized the effects of industrialization and private ownership on society. Now, we know that America's traditional liberties and freedoms were built on the concepts of Free Market Trade. Without this critical component of American Society, there is no such thing as liberty. Yet, Progressive minded individuals embrace ideals that lead to socialism. It's almost like Progressives wish they lived in Europe again!
Capitalism on the other hand, is the economic system used by democratic countries like United States. With Capitalism, things are made and produced by privately owned companies, companies started by people like you and me. Supply, demand, and prices are set by the business owners and market forces, rather than by economic planning by a bureaucratic government. At the end of the day, profit is distributed to business owners who took the risk and invested in the company.
Socialism is the complete opposite of Capitalism and strives for and idealistic sense of economic "fairness" amongst all people.
Socialists generally share the view that Capitalism is unfair. Socialists think earned private profit concentrates too much power and wealth amongst a small segment of society, and this constitutes an "Unfair Advantage" against those in society who did not take the same risks as the Private business owners did.
Socialism itself is not a concrete philosophy but it's main components typically are:
- Government Ownership and Regulation of Consumer Goods and Services
- Government Controlled Rationing of Consumer Goods and Services through Economic "Planning"
- Government Controlled Redistribution of Wealth and Profit
- Government Social Intervention to promote a "Balanced Society"
So basically, socialists would like the government to tell you how much you should earn, what you should charge for your goods and services, how to distribute your products, and so on.