An Honest Look at Socialism and Capitalism In the US

An Honest Look at Socialism and Capitalism In the US

Bernie Sanders was an interesting political candidate in the US. He turned the political world on its head, and changed the way many people thought about the way a campaign should be run. For example, unlike his Democratic colleague Hillary Clinton, he accepted no money from Wall Street donors. He only took grassroots donations from ordinary people, like you and me.

This captured the imaginations of many young voters, especially when he talked about free college and many other hallmarks of modern socialist societies. If there is one thing Sander’s campaign has done for sure, it was to revive an interest in socialism as an economic system again. It’s really too bad he was shut out of the primaries in the election, because many feel as if he has much to offer to the nation.

In the United States, capitalism is (mostly) held up as the gold standard for economic systems. There is a good reason that many people think this! Capitalism is the thought the your own self-interest is what propels a nation forward economically. For example, people don’t (normally) build massive buildings and skyscrapers or become a professional drummer with great drums, such as at http://barkingdrum.com/, because they are just “good people,” they build them because they know they will make money off of them, and therefore it is in their best interest to make a lot of money. Along the way, many jobs are usually created and lots of people benefit.

The problem arises when there is no form of regulation on what the capitalists can and cannot do. For example, pure and unregulated capitalism would see no problem in destroying an endangered species if it created more money and more jobs. This is an oversimplification; many capitalists (such as Elon Musk) are interested in preserving the world and advancing humanity, thus inventions like the Tesla and Green Energy. But there is a problem, and knowing what to do about it is difficult.

It’s difficult because what many people see as the alternative, brought to the mainstream by Sanders, is socialism. Most Americans have a distrust of socialism, and rightly so. Socialist governments have a way of causing more human rights violations than any other form of government (think USSR and North Korea) and no American wants that to come to US soil.

But there are other countries like Sweden and Denmark that have elements of socialism in their government and are doing very well! But the reasons these governments are doing well is because they have a hybrid economic system; their taxes are very high, but they do allow a good deal of economic programs. Their entitlements are also less than what most people think.

The problem with capitalism is that it offers too little regulation; the problem with socialism is that SOMEONE has to pay for what the government offers. I believe a hybrid system might be the answer, but it’s hard to say unless you try it!