Friday, January 7, 2022

Democratic socialism

Sometimes liberals express surprise when people consider them socialist. Some of this stems from the fact that many liberals feel that people cannot take care of themselves and need the help of government. Many also give the impression that they prefer government over private business. Communism gains a foothold when leaders believe that people left to their own volition will not do the right thing so government must act on their behalf. This is in contrast to Adam Smith the founder of free market capitalism who stated that each person out to promote their own well being will help the society in general. What many liberals are striving for is something called democratic socialism. Under democratic socialism, the ownership of private property is limited. The government regulates the economy. Different programs offer assistance and pensions. Democratic socialist strive to minimizes income inequality under the mantra of, from each according to his means, to each according to his needs. Thus things like progressing income taxes and wealth taxes seem to fit. The ideas of winners and losers must be replaced with equity.

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