One of my jobs is that of a professional fact checker. I just rated a right-wing article about the “evils” of socialism, and it made my blood boil. This is propaganda that goes all the way back to WWI, and it is NOT based in truth! When people discuss the evils of socialism, 9 times out of 10, they don’t even understand what socialism even means. Arte California
Socialism is an economic system in which the means of production are collectively owned, usually by the government. Arte California
Capitalism is an economic system in which the means of production are privately owned. By means of production, I mean everything—land, tools, technology, and so forth—that is needed to produce goods and services.
Both socialism and capitalism have distinct advantages and disadvantages. Neither is “evil.”
Some nations…those that are, in fact, most successful, in terms of taking care of their citizens, providing great healthcare, education and citizen benefits, combine elements of both capitalism and socialism. These are the social democracies, while their combination of capitalism and socialism is called democratic socialism. I consider myself to be a democratic socialist. It differs from both capitalism and socialism.
All of the Scandinavian countries (Denmark, Sweden, Norway, Finland, and Iceland) are social democracies, as their governments own important industries while their citizens enjoy much political freedom. Each nation has the three branches of government with which most people are familiar—executive, judicial, and legislative—and each nation has a national parliament to which people are elected by proportional representation. I believe this is the best way for America to go.