Capitalism, Socialism, and The Welfare State

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  • Capitalists typically complain that socialism is unearned welfare to the undeserving
  • Similar analysis can be applied to capitalism, whose externalities effectively socialize costs while privatizing the benefits. As such, capitalism can make little claim to be "deserving" in it's current subsidized form
  • Honest analysis equates socialism and capitalism in terms of their common welfare mentality, as opposed to entrepreneurial mindset, for there appears in general to be little entrepreneurship is established corporations - whether for profit businesses or governments (providers of social services)
  • As such, capitalism should be, more honestly, referred to as "private-gain socialism" to the critics of socialism
  • By similar logic, socialism may be called "public-benefit capitalism", but this metaphor does not appear to be useful nor sensible
  • Both phrases in last 2 bullet points appear to be contradictions of terms, which reflects an artificial polarization between socialism and capitalism
  • Explain this in more detail, as the concept of "private gain socialism" appears to be a powerful metaphor that sheds light on the true nature of capitalism, and can close the artificial divide between the socialist and capitalist camps. Transcend and include.