8 Advantages and Disadvantages of Socialism

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8 Advantages and Disadvantages of Socialism

Socialism is a type of economic system that is highly controversial all around the world. In a socialistic society the government owns all of the industries, which means that they completely control them as well. They determine prices, amount of production that happens, and just about everything else that has to do with the economy. The main goal of this is to bring equality to the people, help manage the uneven distribution of wealth, and take away the class divide. While socialism is certainly a good theory, it’s real life applications have proved some very real issues with the Utopian society.

The Advantages of Socialism

1. Eliminates Greed
The biggest advantage that comes fro socialism is that there is no more greed. No individual person can have much more than the other, and businesses are all owned by the government. Money isn’t the driving force in a socialistic society.

2. The Needs Are Met
Another great thing about socialism is that everyone’s needs are completely met. This means that health care is universal, education is free, food is supplied, as well as clothing and other necessary items to live. This is great for the entire society because it helps to reduce poverty.

3. Mobilization of Goods
Disasters of all kinds can occur at any time, and when they do, an immense of amount of services and goods are needed in order to ensure that everyone is safe and taken care of. In other types of economies individual people own all of the rights to these goods, and have the right to refuse them for assistance. With socialism, the government has full control of all of these things and can easily mobilize them to the areas that need them the most.

4. Everyone Does It…Kind Of
The idea of socialism is used in just about every single country on the planet in some way shape or form. It is the only way to ensure that some of the most basic and needed things are given and provided to all people. Some examples of this is the public education system in the United States and Universal Health Care in Canada.

The Disadvantages of Socialism

1. A Historic Failure
All through out history countries have tested out the idea of socialism, and all of them have crumbled and failed miserably. This is one of the biggest problems with socialism, the fact that it has been proven not to work, no matter how many different tweaks the government tries to instill.

2. Nothing Is Yours
It is strictly forbidden to own private property in a socialistic society. This makes it so that nothing you have is your, it belongs to “everyone” or the government. No body feels the need to work hard, learn new skills, or put effort into anything because they can never truly obtain anything.

3. Laziness Is A Plague
With socialism is pays to be lazy. You don’t have to lift a finger and you are never worried about where your next meal is coming from or if you will have a roof over your head. This may seem like a good thing to some, but it is truly a horrible characteristic of any country. The innovation stops, creativity, motivation, and all other forms of things that would advance the society are halted.

4. It’s Expensive
It costs a whole lot of money to provide everyone with the things that they need, and this money has to come from somewhere. In order to subsidize where the funding comes from, all of the money that is made by the citizens is taxed at extreme percentages in order to cover all of the costs.

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Important facts About Socialism

  • There are many different types of socialism, including: Utopian, Christian, Market, Gild, and Anarchism.
  • John Lennon and Susan B. Anthony are some of the most famous supporters of socialism.
  • The taxes that are paid into the Internal Revenue Services in the United States are considered to be a highly socialistic practice.
  • Albert Einstein was also a support of socialism. He even wrote an acclaimed essay entitled “Why Socialism?”.