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CAPITALISM VERSUS SOCIALISM: REFERENCE GUIDE

Posted by Tim Bryce on March 6, 2019

BRYCE ON POLITICS

– What every young person should know.

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REFERENCE GUIDE

                                                              CAPITALISM                                SOCIALISM

WHAT IS IT? Socioeconomic system based on PRIVATE ownership of the means of production and operates for PROFIT.

Encourages independence and the rights of the INDIVIDUAL over the group.

The individual is allowed to try any endeavor, including the development, marketing and support of products and services for public consumption.

The individual is allowed to keep and enjoy the fruits of his/her labors.

Socioeconomic system based on STATE ownership of the means of production; not driven by profit.

Encourages state dependency and the rights of the GROUP over the individual.

The state dictates what products and services are to be developed, and who shall produce them.

Each person works for the state, not individually, and receives compensation in the form of shared wealth and free services.

A pseudo-Utopia.

ECONOMY Free economy; based on private buyers and sellers.

Competition flourishes and causes natural evolution of products and services through market demand (akin to Darwin’s “Natural Selection”).

Consumers free to choose the products and services they want.

Economy is controlled by the state; little, if any, competition.
Buyer has fewer choices to make.
CLASS STRUCTURE 3 levels – Upper/Middle/Lower classes.
Middle class powers economy through purchasing power.
2 levels – State/Worker classes (aka, “Master/Slave”).

No middle class, no economic engine, a redistribution of the wealth.

Workers become wards of the state.

THE INDIVIDUAL Independence encourages personal initiative and work ethic.

More earning power, but individual assumes risk.

Enjoys protection of Intellectual Property, e.g., patents, copyrights, trade secrets, etc.

Employment will experience ups and downs due to economic conditions.

Discourages personal initiative (“everyone wins”). No Super Rich.

Compensation is evenly distributed among workers.

Earning power is limited. Individual assumes no risk.

Intellectual Property is owned by the state, not individual.

Employment is guaranteed.

EFFECT ON GOVERNMENT Personal independence requires freedom and equal rights in order to function.

Requires less bureaucracy, smaller government.

Flourishes under a Republic with democratically elected representatives.

Creates dependency on state; Requires more bureaucracy (larger government) through regulation as the state controls everything, including food, education, housing, communications, health care, energy, transportation, etc.

Hinders rights and loss of liberty. Encourages autocratic rule.
Less freedom.

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Keep the Faith!

Note: All trademarks both marked and unmarked belong to their respective companies.

Tim Bryce is a writer and the Managing Director of M&JB Investment Company (M&JB) of Palm Harbor, Florida and has over 40 years of experience in the management consulting field. He can be reached at timb1557@gmail.com

For Tim’s columns, see:   timbryce.com

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Copyright © 2019 by Tim Bryce. All rights reserved.

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7 Responses to “CAPITALISM VERSUS SOCIALISM: REFERENCE GUIDE”

  1. Tim Bryce said

    A P.E. of Michigan wrote…

    “Nice simple comparison…I was very fortunate to visit Eastern Europe in 1977…West and East Berlin, The Soviet Union and Czechoslovakia so I saw Communism/Socialism up close and at work. While every “Iron Curtain” country was oppressive, East Berlin was especially so. What a difference in atmosphere after going through “Check Point Charlie” from the West to the East. I will never forget it. If I hadn’t already had it, that trip alone would have instilled in me a deep appreciation of Capitalism and the opportunities it provides.”

    Like

  2. Tim Bryce said

    A P.E. of Michigan wrote…

    “Sitting here thinking some more…Three quick examples…GUMS in Moscow on Red Square (billed as the largest department store in Europe) was all but empty of goods. What goods they did have a stock of were just displayed over and over again on each floor. No variety of items. We were given an assignment to purchase bread, cheese and wine. Three different stores and three different long lines with unhappy Russians waiting in the cold with us. In East Berlin they were very proud to bring us to what was their “showcase” “modern” grocery store. Very little in it and I didn’t see one German customer as a patron. It had obviously been built in an effort to impress foreign visitors as it was behind the little hotel district where we and other foreigners stayed.

    There’s more instances of Communism/Socialism inadequacies that I saw first hand. I just know that the “kids” here who are “flirting” with Socialism now would not enjoy the likely outcome should they be successful in their efforts.”

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  3. […] CAPITALISM VERSUS SOCIALISM:  REFERENCE GUIDE – What every young person should know. […]

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  4. […] Democrats naively believe socialism is a better economic system than capitalism. The fact socialism has consistently failed over the years and around the world is immaterial to […]

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  5. […] Capitalism – They are trying to replace it with Socialism in order to expand government control and create dependencies (aka, “Master/Slave” relationship). Democrats have abandoned the concept of “earning a living,” preferring entitlements instead. […]

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  6. […] and gullible public to swallow their tripe. Republicans have to teach youth the differences between Capitalism versus Socialism, Democracy versus Republic, Freedom versus Entitlements and slavery. We need to reclaim civics and […]

    Like

  7. […] and gullible public to swallow their tripe. Republicans have to teach youth the differences between Capitalism VS Socialism, Democracy versus Republic, Freedom versus Entitlements and slavery. We need to reclaim civics and […]

    Like

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