April 19, 2011
The United States of America was founded on ideals that encourage a free market economy. People have the right to use their own wealth to create more wealth. This has opened the doors to many entrepreneurs who come to the United States with hopes of having a piece of the capitalistic pie. As oppose to socialism, the idea of capitalism focuseson maximizing profits while minimizing costs which, if done properly, can lead to great profits. Even though capitalism gives corporate America freedom by cutting out government, society should embrace socialism because it is beneficial to the wellbeing of all its citizens.
Capitalism is based upon private ownership of property which can be used by the owner to create profits; however, undercapitalism workers receive only a small fraction of the wealth that they alone produce, while the lion’s share goes to the capitalist owners and to the bankers, landlords, insurance companies, lawyers, politicians, and all the other parasites who live off the back of labor and perform no useful work. (Ingham, 2005) By ending this robbery of the working class, socialism will enable workers to enjoythe full fruit of their labor. This is because Socialism takes the ownership, responsibility, and benefits of resources and the means of productions out of the hands of the elite few and puts them under the collective hands of the people. Contrary to popular belief, this actually increases the quality of goods produced, etc. With socialism the workers themselves own the companies, resources, andmeans of productions so they have a very real connection and vested interest in the well being of said companies. (Zsolnai, 2002)
Socialism can potentially eliminate poverty. Under capitalism, technology is mainly used for replacing workers and enhancing profits. Rather than creating a wealthy society, capitalism makes use of machinery for creating poverty and unemployment. (Zsolnai,2002)Nevertheless, socialism does not use industries for private profit, but these profits also benefit the people. This means that the employees who built the industries can also receive some benefits through socialism. Socialism ensures that the responsibility and ownership of various industries is placed on the local people and not the selected few. Different from what many people believe, this actionactually enhances the overall quality of both goods and services. Employees usually work much harder than before since they now have something to gain from producing better goods.
Furthermore, under socialism society would produce for use and to satisfy the needs of all the people. Under capitalism the industries operate for one purpose: to earn a profit for their owners. Under this system, food isnot grown primarily to be eaten. It is grown to be sold. Cars are not manufactured primarily to be driven. They are made to be sold. If there are enough buyers here and abroad, then the capitalists will have their factories turn out cars, appliances, pianos and everything else for which buyers can be found. But if people lack money, if the domestic and foreign markets cannot absorb them, then thesefactories shut down and the country stagnates, no matter how much people need these commodities.
At the present time, agriculture capitalists know that they can produce more than market conditions and price-protecting government restrictions, compensated for by cash subsidies, permit them to. Meanwhile, millions of Americans suffer from malnutrition and hunger, as recent surveys haveshown, and most households count their nickels and dimes when they shop for food. (Cerny , 1985) Under socialism the factories and industries would be used to benefit all of us, not restricted to the creation of profits for the enrichment of a small group of capitalist owners. Under socialism our farmlands would yield an abundance without great toil; the factories, mines and mills would be the...