Socialism

1. Find out who are the great thinkers of the economic system ?

- Saint-Simon
- Robert Owen

2. What are the advantages and disadvantages of your economic system?

Advantage:

in a world of diminishing jobs because of computerization, automation and technological streamlining, there really won't be enough work for everyone. The population will continue to grow and jobs get scarcer and scarcer. Corporations monopolizing, leveraging buyouts and bankrupting competitors further deteriorate the job market. People will need to be able to live, especially since inflation REALLY does exist, despite the way it gets downplayed by experts. Socialism in some form may offer relief from this. So, also, would massive public works programs to restore the infrastructure we have let slide because of poor prioritization.

1) Participatory government. Socialism is predicated on democratic power devolving to individual councils of organized labor.

2) Lower rates of crime. When people are not thrust into desperate circumstances, they are less likely to commit acts of violence against their neighbors and/or property.

3) Higher overall standard of living and quality of life. See: Scandinavia.

Disadvantages:

1) Less incentive for structural and technological (especially technological) innovation.

2) Fewer opportunities for technological innovation (without the ability for individuals to amass large amounts of capital, the benefits of entrepreneurship, especially in technological R&D, are muted).

3) Unless accompanied by a political program directed at the eventual dismantling of the state, Socialism represents the expansion of the state and, potentially, more invasive state intrusion into the lives of individuals.

3. Find out which countries currently use the economic system you are studying?

-Sweden

-Belarus

-Denmark

-Canada

-Vietnam

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