Protestantism

» Brian Tubbs - Socialism v. Capitalism

Which economic system (socialism or capitalism) is better? And why?

» pink101 - Socialism v. Capitalism

In response to Socialism v. Capitalism posted by BrianTubbs:
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Brian asks, "Which economic system (socialism or capitalism) is better? And why?
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Will you explain your understanding of the defining differences between these two economic systems?
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-- posted by pink101

» Brian Tubbs - Socialism v. Capitalism

In response to Socialism v. Capitalism posted by pink101:

In theory....

Capitalism is the view that each individual is entitled to the fruit of his or her labor.

Socialism is the view that the society overall is entitled to the collective fruit of its labor.

» pink101 - My Contention

In response to Socialism v. Capitalism posted by BrianTubbs:
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Capitalism is the view that each individual is entitled to the fruit of his or her labor.
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Here's what I think about your definition.
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Capital is defined as wealth in the form of money or property owned by a person or business and human resources of economic value.
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Capitalism is defined as an economic system based on private ownership of capital.
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Socialism is defined as an economic system in which the people of a society own capital.
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My contention is that society operates best under a limited economic system that combines the two. For example, I'm sure you're aware of the fact that Muslims What is the Feminist view on that point?
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-- posted by pink101

» pink101 - ERATA--My Contention

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I don't know what I did to mess up the previous post; but, it is confused. Please disregard it and accept this one in its place.
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Brian wrote, Capitalism is the view that each individual is entitled to the fruit of his or her labor..
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Here's what I think about your definition.
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Capital is defined as wealth in the form of money or property owned by a person or business and human resources of economic value.
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Capitalism is defined as an economic system based on private ownership of capital.
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Socialism is defined as an economic system in which the electorate of a society own the capital.
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My contention is that society operates best under a limited economic system that combines the two. For example, the U.S. Postal Service is owned by the electorate and operated on behalf of America in general. Yet, there is the allowance of competition as exemplified by Fed-Ex and U.P.S. The same could be true of many industries in America--especially as pertains to energy, health-care, and education.
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-- posted by pink101

» Brian Tubbs - Right of Ownership

In response to ERATA--My Contention posted by pink101:

I think we're on the same page as far as definitions. Capitalism is predicated on the right of ownership - the ownership of capital / property. Thomas Jefferson put a broader spin on it with the Declaration of Independence, when he used the phrase "pursuit of happiness." But I think we're agreed - and the Founders would agree - on the basic definition.

I would submit that the United States of America was founded on capitalism - not socialism. Given that, that is how we should remain.

» pink101 - Right of Ownership

In response to Right of Ownership posted by BrianTubbs:

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I would submit that the United States of America was founded on capitalism - not socialism. Given that, that is how we should remain.
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Now there is a conservative statement if I ever heard one. Sounds a little like, "If God wanted men to fly, He would have given us wings", or, "If God wanted us to have cars He would have put wheels on horses."
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Brian, America was founded on a capitalism in which slavery was an important engine. Should we still have slavery?
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-- posted by pink101