This is an election year, a year where many persons seek to be elected into a political office including the President of the nation. The economy and government’s role in it is on the front burner of everyone’s mind. It is an election that, in my mind, will determine whether the people seek a socialistic form of economic system or a system of free enterprise. It will be the ultimate test of the value of the democratic system of government.
The end results may not be seen in the immediate future but never the less time will be the judge of the outcome. And there are many who are uncertain of what is to be expected of them and that uncertainty is felt throughout society right now during this recessionary period. And they are looking to government for the solutions
Economics is a strange creature. It can be measured on the individual level as well as on the collective level. It can be established in many forms also as history has shown us. But regardless of what form of economics is the dominant form at any given time there is one principle that must be applied and that principle is the law of supply and demand.
From an economic viewpoint any society can be divided up into four types of collectives, government, private business, charities, and the family (individual). The success of each is dependent on how well they deal with the relationship between revenues and expenses. In a perfect system of economics expenses would never exceed revenues. But that would only occur if both revenues and expenses can be totally controlled. Unfortunately we do not live in a perfect existence and the economy of any society cannot be controlled regardless of what anyone knows or believes.
Socialism is a form of economics where the focus is on the demands of the individual with the expectation of the collective to provide the supply to meet that demand. It is also the foundational basis of their perception of the meaning of rights. In their eyes the needs of the individual is synonymous with the right to possess the object of that need even if it is at the full expense of that collective.
For a socialistic form of economics to thrive theoretically one must believe that people are by their nature altruistic or that life is deterministic and that men can be trained to be altruistic by the application of laws. This would imply that an advocate of socialism believes that a free enterprise form of economics is the cause of greed and self-interest thus immoral and unjust.
It is the profits inherent in a free enterprise form of economics that best exemplifies the self-interest and greed of human beings. To the socialistic mindset it is the fact that within a free enterprise system that profits must come at the expense of some is seen as the crux of the immorality and the injustice of the system itself. It is a declaration that one individual must suffer so that another man may know the benefits of the system.
Socialism is an economic theory that attempts to use a scientific approach for the solutions of the problems of life. Its a viewpoint that sees the imperfections of life then tries to ascertain the cause of that imperfection for the purpose of eliminating that cause and replacing it with a man made solution. Since it is seen as being a scientific approach then in the eyes of a socialist it must be a valid solution.
If socialism is a scientifically valid solution to the problems of life then there can be no reason not to implement it in any society and this is the substance of the socialist’s argument. Even religions are strong proponents of this form of economic system. Yet when it’s fully implemented it proves out to be a failure. It is the acceptance of it being scientifically valid theory that leads a socialist and those on the left to continue to have faith in this theory.