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Socialism is literally a proposed alternative to a market economy w/ private property in capital goods, substituting centralized control and planning of all pro
by zozbot123 8y ago
Socialism is literally a proposed alternative to a market economy w/ private property in capital goods, substituting centralized control and planning of all production. "Communism" is sometimes used as synonimous with socialism in a political context (e.g. "communist party", or "communist countries") but economically it meant something quite different, namely the expectation that socialism would ultimately result in something like post-scarcity, where even government itself would not be needed.
Anyway, what's up with people linking mises.org here? It's extremely tendentious, it's not an intellectually-rewarding site - or even an intellectually-honest one, IMHO - even if some of their policy positions make sense.
- Annatar 8y agoSocialism is not against private capital or capitalism and never had anything to do with planned economy; that's communism, where everything is supposed to belong to the collective and the collective plans the economy. Most people can distinguish between socialism and communism without difficulty.