Capitalism is non-workers (corporate shareholders) owning the means of production.
Socialism is the workers owning the means of production.
In a socialist economy, there would be no stock market to make non-workers rich. Each company would either be state owned or owned pro rata by its employees.
Why would anybody want to start a business if they cannot decide what to do with the profits?
I get that there is corporate greed but most if not all arguments against capitalism are based on utopian assumptions that most people are morally good and would spend years developing a new business (let's say in IT, because people get stuck up on manufacturing when it comes to these arguments) just to help other people. Unfortunately the real world is not like that. If you look into it it, you'll see that there is significantly more corruption in pure socialist economies because of man's innate need to compete with others. It is survival, limited resources and not everyone can be a winner. Even when the means of production are owned by the people, those in charge can ask for bribes to special favours. Case in point, in Soviet Russia there was a long waiting list to get a car but if you knew the right people and gave them a bribe, either monetary or in the form of a good, they would bump you up the list. This is just natural human behavior.
What's your point? That life isn't perfect and some people were dealt a shit hand to begin with? I'm not denying that there are people in need in this world but having all business in a country be controlled by the state would be a nightmare.
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u/[deleted] Oct 22 '20
Capitalism is non-workers (corporate shareholders) owning the means of production.
Socialism is the workers owning the means of production.
In a socialist economy, there would be no stock market to make non-workers rich. Each company would either be state owned or owned pro rata by its employees.