Socialism vs. Capitalism?

[A Former User]

what do you think about that economic systems? you can argue based on culture, social, economic growth, philosophic perspectives (excluding religion).

[Lucifer]

A pure socialist economy with Central planning and State owned means of production leaves very little incentive for people to strive for excellence or for a better life.With the state providing for everything people become lazy, the country's productivity reduces over time and sooner or later the fiscal deficit crosses the manageable limit.

Whereas a pure capitalist economy while it creates a lot of competition it also creates a dog eat dog environment. It may boost the country's productivity to high scale but it does so at the cost of its underprivileged citizens. With a laissez faire economic condition the State leaves its citizens at the mercy of the Elites. And sooner more than later the 1% will rise in revolt.

I prefer the mixed economy where the State acts as a refree and not a player. It lets the industrialists control majority of means of production but at the same time keeps the sensitive sectors to itself. Where the State will incentivise production with subsidies and special economic zones but will also prevent monopolies. A State in mixed economy can provide better health care and higher education facilities with a Public private partnership model.

To sum it up Mixed economy > Socialist economy > Capitalist economy.

[A Former User]

@lucifer_ i could not agree more with you and i really pleased with your explanation, thank you for your argument lucifer.