Doctors speak about good cholesterol and bad cholesterol. Some people say there’s a good kind of socialism, democratic socialism that is different from the bad kind, the Marxist-Leninist variety. Let’s take a look at that claim.

Socialists are hazy on the details of a socialist economy. The first step is “state ownership of certain industries.”  Democratically elected workers supposedly would decide what to make and what prices to charge. Would you prefer to buy goods at state-owned stores and eat at state-owned restaurants? Something inside of us knows that we would not be happy with this.

The more the government interferes in the market, the less competitive an economy will be. Let me give and example. Let’s say there was one phone company making phones instead of the two major companies we have now…Apple and Samsung. One state owned company would not be pushed by a competitor to make better phones or at a cheaper price. I think intuitively we know this is true. If the state owns corporations, there is no competition, only rivalries among people with political power.

Contemporary democratic socialists have a concrete agenda: They want to eliminate capitalism. The Democratic Socialists of America say: “In the short term we can’t eliminate private corporations, but we can bring them under greater democratic control. In the long run, democratic socialists want to end capitalism.”

What democratic socialists don’t realize is that a strong market economy is a necessary condition for freedom. Democratic socialism is a contradiction in terms. In relations to oft mentioned Sweden as example, “Sweden allows property and profits,” notes economic historian Deirdre McCloskey. “It allocates most goods by unregulated prices.” The U.S. bailed out General Motors, butSweden didn’t rescue Volvo or Saab.

Don’t get me wrong…capitalism as we see it in the Bible must have a soft, social side to it. Capitalism needs to be applied with compassion. Some social responsibilities can be delegated to the government, but history tells us the family, church and individuals who are successful at applying the principles of capitalism will always carry on the most effective social programs.

We should cultivate a Biblical society that values free individuals impacting society for the benefit of all.

Source:

The Fantasy of ‘Democratic Socialism’ If the state controls the economy, competition is replaced by rivalries among politicians.Miller. S. Wall Street Journal Oct. 26, 2018