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Lv 5
? asked in News & EventsCurrent Events · 4 years ago

When will Corbynites learn that Socialism is inefficient because it makes economic calculation impossible?

With a central government owning all (or any) means of production and distribution there can be no competition, profits, losses, market prices or market, for that matter.

However, profits, losses, and prices serve to guide scarce resources to their most highly valued means. The fact that socialism is inefficient compared to free-market capitalism can be seen as the answer to an empirical question. Clearly, history has answered this question. Nations such as the former USSR, Vietnam, Cuba, and North Korea are great examples.

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  • Anonymous
    4 years ago
    Favorite Answer

    To be fair, Scandinavia will always be richer than us just as Latin America will always be poorer, irespective of left or right. It's a question of work ethic and the size the population relative to natural resources. (Denmark is like East Anglia on a bigger scale. Good, flat farmland, low population, prosperous)

    So it's daft to say that socialist Britain would be rich like Denmark OR poor like Portugal.

    I digress. The central fail of socialism is that it requires protectionism. Remember the eighties "The electricity board should buy British coal, support British coalmines, we should sibsidise BL, British Steel" ?

    OK, so that means that your never going to holiday in Spain, drive a Japanese car?

    Corbyn's policies to many people are good on paper but are ALL based on a best possible scenario and ignore the simple fact all sorts of unforseeable obstacles will present themselves, like maybe a civil war somewhere so Jezz takes in fifty thou refugees (as he WOULD) costing a few unplanned billions.

  • 4 years ago

    As recently as 2015 Corbyn was celebrating the success of socialism in Venezuela and how Chavez had "shared the wealth". Most Venezuelans now live in misery, the country is bankrupt and the people queue all day for food, medicine and toilet paper - much of which is unavailable.

  • Huh?
    Lv 7
    4 years ago

    This isn't how a modern socialist economy works. What it means these days is a mixed market economy where vital national services such as railways, healthcare, gas and electricity grids, and the like, are operated by the government but companies are free to provide other goods and services within certain restrictions. These are mainly things like controls on working hours, holiday allowances, protection from unfair dismissal and the like to prevent employees from being exploited, and regulations on things like pollution and unfair business practises to keep the companies honest. This is the sort of socialism Corbyn wants, he is not a Leninist by any means. Nobody with any grasp of reality holds up the countries you name as good examples of economic management.

  • Anonymous
    4 years ago

    They won't. As you can see they deflect attention from 'socialism' and call it 'social democracy', best tell Corbyn what he thinks then as corbynites know better than he does. And yes the silly comparisons with places like Denmark, why not look at real socialist economies like Venezuela or Cuba?

    Or they insult the asker, the corbynite or Labour way?

    You must be too stupid to know what they know.

    Arrogance covering ignorance?

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  • Anonymous
    4 years ago

    Capitalism has become a monster, at some point it made sense because we had an endless supply of resources (not really but you know what i mean) but now it butchers the environment for profit and when challenged; holds its hands up and says, the scientists are all lying!

    Anything that relies on lies and deception to sustain it is rotten and must go

  • Yet Social Democracy brings about the highest standard of living in the world

  • Anonymous
    4 years ago

    So how do you explain Denmark?

    The last 20 years has 4 out of 5 Top-Economies be Socialist, or Combination Markets. The Free-Market has been losing for 2 decades now, which was predicted, the Free-Market has a system-error, one we will now keep running into every 3-4 years.

    Source(s): Could it be you mistake Socialist, for Stalinist?
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