Quote:
Originally Posted by Wayfarer
yeah, because understanding an entire economic system is as simple as looking up a sentence-long definition in the dictionary.
EDIT: and yes it is an inherently bad idea because not only has it failed in practice but it was suggested (some say proven) almost ninety years ago that it can't even work in theory as with socialism comes economic planning and a planned economy lacks a mechanism to rationally apportion resources. aside from that, there are the arguments that socialism hinders technological progress as a result of stifled competition, inevitably leads to totalitarianism, and most importantly that it drastically reduces incentives for workers as everyone holds equal wealth.
why anyone would think socialism is a good idea is beyond me.
|
Yes and complete economic deregulation leads to sweat shops, corrupt businesses and wages you can't live on.