Anybody who believes socialism is the right economic theory is either stupid or badly misinformed. Socialism (which is just one form of collectivism) has been proven a failure many times, as it seems to work for a while, then, when it runs out of other people’s money, it fails, as it did famously in Soviet Russia. The basic problem with socialism is that it creates NO new wealth, only surviving by LOOTING from those who DO produce new wealth for the benefit of those who do NOT. The very MOTTO of collectivism tells the story.
It is, “FROM each according to his ABILITY, and TO each according to his NEED,” MAKING need A DEMAND upon the earnings of the producers of new wealth. Soon those producers figure out that they are being looted, and they either earn less or just stop earning. Or go somewhere their earnings are not stolen from them by the government, and GIVEN, UNEARNED, to those who produce NOTHING. Socialism DEPENDS on these producers to continue to produce new wealth for them to STEAL for the benefit of people who would rather live at the expense of others, rather than earn their own way.
Yet socialism is still popular among those who have been indoctrinated, from a very young age, in their schools, by liberal teachers and later professors, who have, themselves been indoctrinated. Socialism is most popular among the young, who have not been ALIVE long enough to know any better. They are fed daily doses of “conditioning,” day after day, until one of the most difficult things to do is to disabuse them of the notion that socialism is good, in spite of its failure in places like Russia and Venezuela. When it does predictably fail, the socialist salespeople make excuses, such as, “There has never been practiced TRUE socialism, yet.” Or “They weren’t socialist enough,” all of which is damned foolishness.
The fact is, it just does not work. The free market (which socialists derisively call “capitalism”) DOES work, and that has been proven by the fact that the United States, a free market nation, which is less than 300 years old, has completely outstripped civilizations that have been in existence for thousands of years, and is the “destination of choice” for those who want to better themselves. That the free market works is undeniable, although socialists continue to deny it.