I saw a post on Twitter today, a video clip of functional socialists in Chicago decrying Walmart’s recent decision to shutter four unprofitable stores in high-crime low-income neighborhoods throughout the city. I also saw a response to the tweet: “Who will we steal from if you leave?” The response was exactly right—while so many champion, in words but not in deed, an economic system that’s “fair” and “equitable” to disadvantaged people, the fact remains that such a system cannot, will not, and has never worked as it only perpetuates poverty, unsustainable dependence, and poor work ethic.
Socialism, as an economic and political system, has had a long and complicated history of repeated failure, despite its many manifestations. It has taken on many forms, ranging from more moderate social democracy to the more extreme radical Marxist-Leninist communism. While the core principles of socialism are centered around equity, social justice, and the collective ownership of the means of production, the implementation of these ideals never been successful, at least not on its own.
Capitalism, with its emphasis on private property, competition, and the profit motive, has been the primary driver of innovation and technological advancement throughout history. Entrepreneurs and businesses, in pursuit of profit, have developed groundbreaking products and services that have improved the quality of life for billions of people.
Under a capitalist system, the incentive to innovate is strong, as individuals and businesses stand to reap substantial rewards for their creativity and good work ethic. This competitive environment drives progress, resulting in a constant cycle of innovation that benefits society as a whole.
Conversely, socialist systems inherently lack the driving incentives present in capitalism, resulting in persistent stagnation and a glaring absence of innovation. For a socialist system to function, albeit briefly, the beneficiaries of socialism must be sustained by the very individuals who would thrive in a capitalist environment. In essence, the success of a socialist system hinges on its financial backing and support from its ideological opponents—Capitalists.
Socialism, besides being an immoral system that exploits one group’s labor and resources to provide for those with inadequate work ethic, fundamentally lacks incentives that promote hard work, innovation, and productivity. Within this framework, state control extends to most industries, with resource allocation determined by centralized planning. This approach has consistently resulted in economic inefficiency, stagnation, and diminished innovation.
In the absence of opportunities to enjoy the fruits of their labor and ingenuity, individuals lack the motivation to exert their full potential. Consequently, this invariably results in a static economy with minimal growth, a pattern evident across numerous socialist and communist nations.
Under this system, extensive state control over the economy culminates in a bureaucratic and inefficient framework. Such centralization fosters an environment ripe for corruption and cronyism.
Throughout history, socialist countries have grappled with corruption, as the lack of a competitive market facilitates power and influence abuse by government officials. This corruption invariably subverts the professed objectives of socialism, concentrating wealth and power among a select few. It has become increasingly evident that this concentration often represents the true goal of a socialist system, which consistently fails to benefit the entire population.
The forcible redistribution of wealth, a core principle of socialism, yields potent consequences, whether unintended or deliberate, not only demotivating people from working diligently but stifling the market itself. Extracting wealth and profits from thriving entrepreneurs and businesses stifles innovation and economic expansion by inhibiting reinvestment into their respective industries, innovation, and job creation. This dynamic precipitates a decline in the overall economy, perpetuating a lower standard of living, as resources are diverted from productive economic sectors to those that are less efficient.
Astoundingly, despite the litany of issues previously outlined, socialism persists in various forms—but only manages to work in any sense by coercing substantial and mostly involuntary contributions from the very capitalists it aims to liberate the economy from. In its essence, socialism enslaves capitalists, compelling them to fuel the socialist machine by supplying the indispensable workforce and financial resources for programs like socialized healthcare, public education, and the egregiously corrupt welfare system.
Let there be no doubt, the ostensible objectives of the socialist machine—claiming to champion equality and justice—are far from honorable. History has time and again demonstrated the perilous pitfalls accompanying the implementation of these ideals. Inefficiencies, lack of incentives, bureaucratic control, corruption, and the unintended consequences of redistribution consistently culminate in stagnant economies and a diminished standard of living.
For socialism to endure, it must parasitically coexist with a thriving capitalist system, powered by the subjugation of its ideological adversaries to generate the wealth essential for funding social programs. When the capitalists abandon ship, the socialist edifice inevitably collapses into ruin.