Looking for some reasons why socialism sucks? You’ve come to the right place. Socialism is defined as: “Any of various theories or systems of social organization in which the means of producing and distributing goods is owned collectively or by a centralized government that often plans and controls the economy“. If you’re like most people – you’ve probably heard a few good things said about socialism every once in awhile.
But how about we take a moment and look at what is often the overlooked aspects of this terrible government structure.
Without further ado:
55 Reasons Why Socialism Sucks
1. Socialism results in high taxes that are terrible for new business.
2. Socialism always fails long-term.
3. It holds a complete lack of understanding about human utility.
4. Taxes render individual earning potential useless.
5. Socialists are largely in favor of international trade (globalization) which is terrible for the environment.
6. It can result in successful established businesses being nationalized and losing their immense power for technological and human development.
7. The structure of socialistic governments always have a catastrophic incentive problem.
8. Entrepreneurship is demolished – limiting a main driving force for innovation.
9. The reward structure for innovation is also grossly reduced (high taxation), further reducing advancement potential.
10. The total disregard for human nature.
11. Low potential for technological advancement.
12. No free market.
13. Resource waste.
14. Low prosperity, compared to capitalism.
15. Big Brother Gov controls everything about you and your families life.
16. An inefficient government owns the means of production (and thus, survival).
17. An inefficient government also owns the means of distribution of those means of production.
18. The people living under socialist governments do not hold nearly the same bargaining (or political) power as their capitalistic competitors.
19. Socialism eliminates the main drivers of growth through distortions in prices and the monetary economy.
20. Inefficient businesses do not fail because of competition – instead they continue to operate at a loss for society as a whole.
21. It reduces choice – business and personal.
22. High market wages are no longer highly coveted because of tax distortions.
23. No private property.
24. The nanny state results in tremendous welfare dependence on the government.
25. It is a main driver for globalism.
26. Venezuela.
27. Constant debt bubbles throughout all sectors of the economy (medical, education, etc).
28. Political correctness.
29. Totalitarian thought police can arrest you for just thinking about something that is against the socialist approved-thoughts commune.
30. Large number of production-blocking regulations.
31. Large number of work-blocking licensing/credential requirements.
32. Repressive methods/corruption by politicians are much easier when the government controls all aspects of life.
33. Ridiculous over-spending on government services.
34. In some cases, even housing becomes nationalized and regulated by the government.
35. Suppression of individual freedoms.
36. Freedom of speech, but only for “approved” speech.
37. Politicized judicial systems.
38. Lack of privacy.
39. Rise of secularism.
40. Socialism promotes degeneracy, even here in the States.
41. Under socialist governments, the (already terrible) media is nationalized and used as a propaganda wing.
42. Their healthcare systems are unfair, expensive, and inefficient.
43. Government-controlled education.
44. Socialism does not value diversity of desire.
45. Forced collectivization.
46. It suffers from the ‘Economic Calculation Problem‘.
47. It only re-structures the classes, it does not end “the class struggle“.
48. National socialism.
49. Gun control.
50. Socialism has resulted in the murder of tens of millions of people.
51. The Union of Soviet Socialist Republics.
52. It is inefficient for poverty alleviation. Capitalism has lifted far more people out of poverty than socialism.
53. It requires strong coercion.
54. The devaluation of the individual.
55. Socialism is “The Road to Serfdom“.
Winston Churchill:
“Socialism is the philosophy of failure, the creed of ignorance, and the gospel of envy.” —Perth, Scotland, 28 May 1948, in Churchill, Europe Unite: Speeches 1947 & 1948 (London: Cassell, 1950), 347.
And again:
“The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries.” —House of Commons, 22 October 1945.
Read more about why socialism sucks by checking out Dr. Hayeks book “The Road to Serfdom” on Amazon:
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That was excellent and well articulated, clear and concise.
Thank you for the kind comment Chris!