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Socialism is the Best

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Hyo Ju Kim

on 23 September 2014

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Transcript of Socialism is the Best

Mikhaila Kim period. 3
How does it work?
Market economy + government controls many: achieving greatest social benefit.

*The government may control major industries. Artificially set prices, or make laws limiting what businesses can and cannot do

ex) China, Venezuela, North Korea, Vietnam,Syria, Belarus, Laos, etc

"Pros and Cons of Capitalism." Economics Help. N.p., n.d.
Web. 22 Sept. 2014.

"Advantages and Disadvantages of Command Economy."
OccupyTheory Advantages and Disadvantages of Command Economy Comments. N.p., n.d. Web. 22 Sept. 2014.

What are the benefits?
- Socialism creates community values. Socialism reinforces the idea that "we are all in this together" instead of each man fending for himself at any cost. This tends to have positive social benefits while equally distributing the work load

- 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. - See more at: http://politicsreport.com/article/benefits-socialism#sthash.AirlEYVO.dpuf
- Socialism creates an egalitarian society

- Socialism would end poverty.

- Socialism creates a sustainable society that can build and flourish both for the current generation as well as those to come, unlike capitalism which is designed to ultimately fail. -
Socialism is the Best
Economic Equality:
Minimum wage, food stamps, social security, and public housing are just some ways to reduce absolute poverty.

Medical Equality:
Socialized healthcare means that everyone receives the same minimum healthcare, even if unemployed and unable to pay for medical needs..
Why not others?
- It is a vulnerable type of economy
- Lack of modernization, hard to change
economy's "style"
- Little innovation
- No competition within the economy
- Firms will have a hard time competition in the
world market
- The quality of the good are detrimental

- Inequality
> Inequality creates social division.

Societies which are highly unequal create
resentment and social division.

- Social Benefit Ignored
- Monopoly Power
- A Failure on Coordination

- Misplaced Incentives
- Business may simply satisfy the wants they have created through advertising.

- Monopolistic industries may restrict output and drive up prices.

-Market economies tend to produce a skewed distribution of income (large gap between the rich and the poor).

What are the benefits?
Socialism, when done right, raises the standard of living for the entire nation as a whole.
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