You are hereAddicting Info: Deconstructing Right-Wing Myths About Socialism, Capitalism, and Who The ‘Job Creators’ Are

Addicting Info: Deconstructing Right-Wing Myths About Socialism, Capitalism, and Who The ‘Job Creators’ Are


-By Silence Dogood

November 17, 2011- Conservatives have taken to a new spin on truth, by refashioning definitions of words and terms in order to provoke new connotations.  Socialism is now defined as a government take over, Capitalism is now defined as patriotic, and the wealthy are now defined as job creators.  But simply redefining these words will not change their true meaning, it is only myth making.

Socialism does not mean the abolition of a free market society, nor does Socialism call for a government takeover of all industry; that is Communism.  Socialists acknowledge the limitation of a free market and believes that some industries should not be run for profit.  Police protection, fire protection, prisons, education, health care, parks, electricity, water supplies, waste and sewage removal, and roadways are just a few examples of industries which should not be run for profit.  The reasoning behind this belief is when these industries are operating for profit, not only will prices rise, but corresponding services would then be reserved only for those who can afford them.  Or more succinctly, no one person should be able to profit over running services, in which everyone benefits from.  One excellent example of Socialism in action is demonstrated in our banking industry.  While most banks operate for the profits of their CEOs, credit unions are owned and operated by the people.  The profits which are not imparted upon CEOs are reflected back to the customer in higher interest rates for investments and lower interest rates for loans.  It may be important to point out that credit unions did not run the same risks as banks when our financial bubble burst, and thus did not need to request nor receive any TARP bailout money.  Nor have the credit unions contributed to the faulty foreclosures as our banks have.  Another example is found in health care.  The free market creates for-profit businesses ranging from medications, medical testing, medical treatments, medical research, to hospitals.  None of which have lowered the cost of health care through innovation or through competition.  This is because the demand of which is a basic necessity, or in other words is non-negotiable.  Like clean water, oil,  and electricity, humans cannot survive without such products or services.  The demand of which is a constant, therefore they are not subjected to the Keynes supply and demand curve.  When prices go up, demand does not lessen beyond a certain threshold.  Americans may forgo a pleasure trip to conserve on gasoline consumption, but their demand for gasoline to take them to and from work is non-negotiable.  Where the free market brings economic ups and downs which effects everyone, Socialism believes that there is a limit on the protections a free market provides.  And quite simply, some things should not be run for profit, especially at the expense of everyone else.

Capitalism is an economic term for the free market system which is structured upon the accumulation of money, where the means of production are privately owned and operates for profit.  Capitalism is neither right nor wrong, it is simply an economic term.  Nor is Capitalism patriotic!  A system which encourages the accumulation of wealth does not salute a flag, nor is it loyal to a native country.  This market system crosses state and national borders in order to provide larger profits for business owners.  If labor costs are cheaper overseas, then it is capitalism which will drive businesses out of our country.  If a company finds it cheaper to produce a dangerous product than it is to produce a safe one, it is capitalism which will produce the most profitable option without consideration of customer safety.  Capitalism only seeks profits and will by nature migrate operations towards areas which promotes greater profits.  Capitalism has no allegiance to any one country as it operates in a global economy.  Again, capitalism has no allegiance with patriotism.  Where would a business find themselves most profitable?  Would they find a country with extremely lower labor costs to be more profitable for manufacturing than a country with higher labor costs?  Would they find a lower taxed area more profitable than an area with high demand for their products?  But most of all,  wouldn’t it be more patriotic for an American business to spark demand in order to operate, manufacture and sell their goods or services inside America, as opposed to overseas?

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