Atomic Bob's Stock Forum - The Golden Thread

fizzy,
I use the terms Classical Liberal and Socialist.
A Socialist believes the power of choice belongs to the state, rather than the individual, and the state should use its power (through coercion) to bring about "equality" - Karl Marx ~ "From each according to his abilities, to each according to his needs."
A Classical Liberal believes the power of choice belongs with the individual. Each individual should be equal as to opportunity, but one must also acknowledge that everyone has different abilities and work ethics with which to apply the abilities they have been given. Therefore, "equality of outcome," which is the desire of Socialists, ultimately will not - cannot - actually happen. The state should exist to facilitate, to the best of its ability while dutifully honoring the superiority of individual rights and freedoms over the restricted powers of the state, the "equality of opportunity" for all of its citizens and then stay out of the way to allow them to succeed or fail based on their own merits and efforts.
Socialism fails EVERY. DAMN. TIME. it is tried because:
1. "Equality of outcome" is a childish fantasy that will never, ever happen in actuality. Some people are smarter and work harder than others, and they will either enjoy the rewards of their successful efforts or they will "go John Gault." Ultimately, the producers in society will refuse to continue to apply themselves if the majority of the rewards from their efforts are confiscated by the state and financial support for the state will eventually wither.
2. The state will quickly become heavily bureaucratic, which will make it very inefficient and incompetent. It WILL NOT be able to compensate for the brain-drain caused by the reclusive withdrawal of its most productive citizens and WILL FUBAR everything it tries to control.
3. The leaders of the state, belying their expressed sentiment of "equality," will actually view themselves as "the elite" who should be provided with a luxurious lifestyle at the expense of the other "little people" whom they purport to rule over. This will definitely cause simmering resentment that will continue to grow until it finally boils over.
4. Generally, people will only suffer so much coercion before they start to sabotage the efforts of their oppressors and then move on towards open rebellion.
Don't know if my thoughts are of any help, but the foregoing is my quick 2 cents worth.
Regards,

Re: My post to an economist

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