A recent fad has taken social media and college campuses by storm. There has been a recent and increasing demand for socialism in the U.S. The expectation is that under a socialistic government, those who are impoverished will prevail. It is expected that those who are oppressed will find freedom and equality. If it were truly that simple, I would be totally on board. Of course every compassionate human would love to see those struggling overcome the obstacles in their way and succeed. However, I would argue that a socialistic government will do just the opposite. Instead of greatly improving the lives of a few, it will instead harm the lives of many. Allow me to elaborate.
Socialism, by definition is, "a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole." According to this definition, all markets will disappear. Although in a socialistic government private property still exists, all economic activity is controlled by the government. The three major markets in an economy are the labor market, the goods and services market, and the money market. With the government in control, there will be no need to determine fair wages for laborers or fair prices for goods or fair interest rates on loans. Believe it or not, these markets are currently used as a statistical way to ensure that a company doesn't charge too much or compensate too little. A competitive market with thousands of companies is what keeps your gas, milk, and cable at their current prices. A competitive market ensures that attending college will earn you a higher wage in the long run. Without these markets, the government has the power to determine your wage, what you pay for your groceries, and what you owe to them with no need for justification. I don't know about you, but I wouldn't let those on Capital Hill decide what ice cream flavor I should get, let alone what is fair for me to earn for the rest of my life.
Socialism is the foundation for communism. It gives a great deal of power to a select few. Historically speaking, there aren't any examples of a long-lasting and stable socialistic government. It breaks down time and time again. Instead of making life great for all, the poor become poorer and the rich become richer simply due to the inability to truly keep all individuals equal. While everyone may make the same wage in a socialistic government, resources will still be abundant in certain areas. Other areas will experience less natural disasters. Due to these better factors of production, output will be better, making it more desirable and more successful which will create inequality.
Without the ability to improve, an entire nation will likely become lazy and unproductive. Socialism breeds a mindset of anti-ambition. Human nature is for individuals to be fueled by capital gains. If your parents tell you to do the dishes, you probably have little to no motivation for this. However, if you're offered $5 to do the dishes, it's a whole different story. This same basic concept can be applied to socialism. Why would individuals push their brain power and work to innovate if they receive little to no credit or reward? It's simply illogical. In a world where terror attacks have become the norm and cancer is affecting millions yearly, my worst nightmare would be to see a decrease in ambition and innovation. The time for crucial advancements and thinking outside of the box has come and we must not let a new and trendy socialistic ideal inhibit this.
