Please enable JavaScript.

Coggle requires JavaScript to display documents.

The moral value of equality in capitalism and socialism - Coggle Diagram

- - - - In a purely socialist system, all legal production and distribution decisions are made by the government, and individuals rely on the state for everything from food to healthcare. The government determines the output and pricing levels of these goods and services.
        Socialists contend that shared ownership of resources and central planning provide a more equal distribution of goods and services and a more equitable society.
        W. Kengton (2022) Socialism, Investopedia https://www.investopedia.com/terms/s/socialism.asp
    - - Its intellectual roots, however, reach back almost as far as recorded thought—even as far as Moses, according to one history of the subject. Socialist or communist ideas certainly play an important part in the ideas of the ancient Greek philosopher Plato, whose Republic depicts an austere society in which men and women of the “guardian” class share with each other not only their few material goods but also their spouses and children.
        Ball, T. and Dagger, . Richard (2022, April 11). socialism. Encyclopedia Britannica. https://www.britannica.com/topic/socialism
    - - Socialists complain that capitalism necessarily leads to unfair and exploitative concentrations of wealth and power in the hands of the relative few who emerge victorious from free-market competition—people who then use their wealth and power to reinforce their dominance in society. Because such people are rich, they may choose where and how to live, and their choices in turn limit the options of the poor.
        Ball, T. and Dagger, . Richard (2022, April 11). socialism. Encyclopedia Britannica. https://www.britannica.com/topic/socialism
- - - - This is seen with the Greek philosopher Plato, who suggests an entirely communitarian society, with not only resources but children and wives being shared amongst individuals. Plato forms part of a hidden socialist rise that we have seen lost in centuries before the industrial revolution (which is the official rise of socialism with Karl Marx's proposals).
        
        Its intellectual roots, however, reach back almost as far as recorded thought—even as far as Moses, according to one history of the subject. Socialist or communist ideas certainly play an important part in the ideas of the ancient Greek philosopher Plato, whose Republic depicts an austere society in which men and women of the “guardian” class share with each other not only their few material goods but also their spouses and children.
        Ball, T. and Dagger, . Richard (2022, April 11). socialism. Encyclopedia Britannica. https://www.britannica.com/topic/socialism
    - - According to the socialist view, individuals do not live or work in isolation but live in cooperation with one another.
        Ball, T. and Dagger, . Richard (2022, April 11). socialism. Encyclopedia Britannica. https://www.britannica.com/topic/socialism
    - - Disadvantages of socialism include slow economic growth, less entrepreneurial opportunity and competition, and a potential lack of motivation by individuals due to lesser rewards.
        OER Editors (u.d.) The Disadvantages of Socialism, OER services https://courses.lumenlearning.com/suny-internationalbusiness/chapter/reading-the-disadvantages-of-socialism/#:~:text=KEY%20Points,individuals%20due%20to%20lesser%20rewards
- - - - Economic inequality was justified on the grounds that the wealthy were more virtuous than the poor.
        Heilbroner, R. L. and Boettke, . Peter J. (2022, April 7). capitalism. Encyclopedia Britannica. https://www.britannica.com/topic/capitalism
    - - In the early 21st century in the United States, for example, the lowest quintile (fifth) of all households received only 3.1 percent of total income, whereas the topmost fifth received 51.9 percent.
        Heilbroner, R. L. and Boettke, . Peter J. (2022, April 7). capitalism. Encyclopedia Britannica. https://www.britannica.com/topic/capitalism
    - - Economic inequality was justified on the grounds that the wealthy were more virtuous than the poor.
        Heilbroner, R. L. and Boettke, . Peter J. (2022, April 7). capitalism. Encyclopedia Britannica. https://www.britannica.com/topic/capitalism