Socialism vs Capatalism

[Sojourner]

No idea if this is factual or not, yet it was an interesting read anyway!

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It's Exam Time
http://ozcentral.blogspot.com/2011/12/i ... -time.html
An economics professor made a statement that he had never failed a single student before, he had failed an entire class.

That class had insisted that Labor's socialism worked and that no one would be poor and no one would be rich, a great equaliser.

The professor then said, "OK, we will have an experiment in this class on Labor's plan". All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.

After the first test, the grades were averaged and everyone got a B. The students who studied hard were upset and the students who studied little were happy. As the second test rolled around, the students who studied little had studied even less and the ones who studied hard decided they wanted a free ride too so they studied little.

The second test average was a D! No one was happy.
When the 3rd test rolled around, the average was an F.

As the tests proceeded, the scores never increased as bickering, blame and name-calling all resulted in hard feelings and no one would study for the benefit of anyone else.

To their great surprise, ALL FAILED and the professor told them that socialism would also ultimately fail because when the reward is great, the effort required to succeed is great, but when government takes all the reward away, no one will try or want to succeed. Could not be any simpler than that.

[redandblack]

Another urban myth doing the email rounds for years, attributed to the London School of Economics and also to Obama. I really wonder why so many conservatives give credence to these nonsense emails.

Soj, I note your linked site also links to the Tea Party (NTTAWWT).

I wonder whether the capitalists in the US were against Socialism when they had to be bailed out?

[Sojourner]

Ideally I have to say that I think the British Commonwealth has the balance about right when it comes to Socialism and Capitalism. Medicare, the PBS and so on are good examples of how a system based on Socialist principals can work pretty well. Yet on the flip side I do agree that people have to have something to work towards as a goal to keep the balance!

Not sure about the Banks, Ireland bailed out the banks, took on their debt and now they are in deep to the point where they cant keep up the interest payments on their debt. Iceland on the other hand stood back and let their banks fall over. People lost money and the banks rebuilt, Iceland has not acquired that debt and are in a much stronger position than Ireland. Still I do think the reason they did not bail out the banks was because they just didn't have the funds to do it anyway and would likely have done so if they did as Ireland have!

[redandblack]

Yes, good post, Soj, and I agree with most of that.

[redandblack]

I suppose my position is that I agree with capitalism far more than socialism and I agree with reward for effort, but I don't like the extremes we are now seeing and as Sojourner says, I would look after the less fortunate more than many capitalist societies do.

[gossipgirl]

Communism Rules. China the most powerful country in the known universe.

[The Sleeping Giant]

Communism Rules. China the most powerful country in the known universe.

Only a super power because capitalist countries buy their goods.

[Jimmy_041]

I suppose my position is that I agree with capitalism far more than socialism and I agree with reward for effort, but I don't like the extremes we are now seeing and as Sojourner says, I would look after the less fortunate more than many capitalist societies do.

Give me some of your money then

[Bat Pad]

I suppose my position is that I agree with capitalism far more than socialism and I agree with reward for effort, but I don't like the extremes we are now seeing and as Sojourner says, I would look after the less fortunate more than many capitalist societies do.

The less fortunate are far better looked after in the most extreme capitalist countries than the most extreme socialist ones.

[redandblack]

I suppose my position is that I agree with capitalism far more than socialism and I agree with reward for effort, but I don't like the extremes we are now seeing and as Sojourner says, I would look after the less fortunate more than many capitalist societies do.

Give me some of your money then

I was going to ask you the same thing, Jimmy

[redandblack]

I suppose my position is that I agree with capitalism far more than socialism and I agree with reward for effort, but I don't like the extremes we are now seeing and as Sojourner says, I would look after the less fortunate more than many capitalist societies do.

The less fortunate are far better looked after in the most extreme capitalist countries than the most extreme socialist ones.

That's debatable, BP.

It's interesting that the Scandinavian countries, which are higher taxed and higher welfare, are among the happiest and most prosperous countries in the world.

There are very few 'socialist' countries in the developed nations.

[Leaping Lindner]

US Banks believe in capitalism when it comes to making profit and socialism when it comes to being balied out.

[Q.]

Don't deal in absolutes. A State should not be absolutely Socialist, as it shouldn't be absolutely Capitalist.

[Bat Pad]

I suppose my position is that I agree with capitalism far more than socialism and I agree with reward for effort, but I don't like the extremes we are now seeing and as Sojourner says, I would look after the less fortunate more than many capitalist societies do.

The less fortunate are far better looked after in the most extreme capitalist countries than the most extreme socialist ones.

That's debatable, BP.

It's interesting that the Scandinavian countries, which are higher taxed and higher welfare, are among the happiest and most prosperous countries in the world.

There are very few 'socialist' countries in the developed nations.

Actually I am pretty sure there are none. For you to even attempt to label the Scandanavian countries as the extremes of Socialism is ludicrous. They are Capitalist Nations with some Socialist policies, like our own.

[redandblack]

Don't verbal me, BP.

It's ludicrous to suggest I've labelled Scandinavian countries as the extremes of socialism.

[Bat Pad]

Don't verbal me, BP.

It's ludicrous to suggest I've labelled Scandinavian countries as the extremes of socialism.

I didn't verbal you, you brought them up clear as day as a rebuttlal to my extreme capitalism v extreme socialism comment.

[redandblack]

It was a comment. It was after a full stop. It was a new paragraph. It started by saying 'It's interesting...'.

Nobody in their right mind would say they were 'extreme'.

Try again.

[Jimmy_041]

I suppose my position is that I agree with capitalism far more than socialism and I agree with reward for effort, but I don't like the extremes we are now seeing and as Sojourner says, I would look after the less fortunate more than many capitalist societies do.

Give me some of your money then

I was going to ask you the same thing, Jimmy

I can give you some of my debt seeing I'm a caring and sharing sort of bloke

[redandblack]

Thanks, very kind.

Don't call me, I'll call you

[Bat Pad]

It was a comment. It was after a full stop. It was a new paragraph. It started by saying 'It's interesting...'.

Nobody in their right mind would say they were 'extreme'.

Try again.

There I was thinking you were trying to back up a statement with an example or some evidence for once.

Silly me

So please tell me, why is it debatable?