Comparison Of Socialism And Communism

Economic freedom is the right of every individual to work for and invest their money in any way they choose with minimal interference from the government. It allows each person to produce and consume products of their choosing while the government permits labour, capital, and goods to move freely. In essence, economic freedom aims to benefit both individuals and the society as a whole. Although economic freedom is an ideal every country strives for, there have been many perverse economic systems in which the quest to achieve complete economic freedom has only created a greater divide between the rich and the poor. One such system is socialism. Socialism strives to bridge the gap between the upper class and the lower class of citizens; however,

The first flawed proposition is the idea that everyone, regardless of their career or social standing, should live in similarly valued houses and own the same amount of property. In a community where everyone recognizes that they'll never be able to increase or decrease the value of the property they own, they are more likely to neglect their land. This would essentially devalue the property, but the person that suffers the most is the next person to inherit the land. The next owner would have to put money into the property even though they will never profit from their renovations; thus, these people lose the little money they started with. In addition, no one can purchase multiple portions of land to build on or rent out. As a result, there is no opportunity to increase one's income or savings account. Aside from individuals losing money through the lack of real estate ventures, the entire society is likely to lose money in the long run. A successful community boasts a variety of shops, restaurants, and services that bring in revenue. However, these businesses are only successful when they have motivated people running them. Most people are motivated by money or the idea that they can make a name for themselves which is what inspires them to work hard and be successful. Unfortunately, socialism and communism eliminate all rewards for succeeding in professional endeavours, and business in the community suffers because of it. Subsequently, the society takes in less money from surrounding areas which is detrimental to the economy and further lowers the amount of money the individuals of the society take in. In essence, the ideologies associated with socialism and communism ultimately reduce the financial worth