Communism Vs. Socialism In The United States

The United States of America was founded upon the principles of freedom and equality for all, and it is essential that these values continue to be reflected in this nation’s economic policy. America’s founding fathers looked towards the free enterprise system, or Capitalism, in order to preserve economic freedom in the United States. Unfortunately, opposition to Capitalism has been growing at a rapid rate over the last decade, and everyday more and more Americans are beginning to support the transition to Socialism. Supporters of Socialism aim to eliminate poverty and income inequality that is supposedly the result of Capitalism. While Communism and Socialism can provide immediate aid to struggling individuals, Capitalism is the only economic
President Obama speaks to this truth when saying that “Free markets have created more wealth than any system in history. They have lifted billions out of poverty.” Capitalism does not restrict anybody from pursuing economic goals. It encourages entrepreneurship and innovation, two vital components of the elimination of poverty. With Capitalism, the free market is left alone to work itself out based on the laws of economics. In society it is easy to understand that freedom is the best facilitator for advancement, so why is it so hard for some to see that economic freedom acts in the exact same way? Robert Ringer claims that “without capitalism, there is no such thing as prosperity for the masses. Capitalism is freedom in its purest form.” Economic restrictions that hinder free markets from acting naturally completely go against all notions of freedom. The freedom of Capitalism is what allows a person to climb out of poverty because there is nothing but hard work blocking the path to
Tony Wilsdon, a labor organizer and opponent to Capitalism, asserts that the “creation of poverty is a product of our economic system.” The evidence to support Wilsdon’s claim includes cuts in public spending and low wages. To start, cuts in public spending have had dramatically negative impacts on housing, infrastructure, public transportation, and hospitals. The impoverished individuals that depend on these type of government funded programs suffered greatly as a result of public spending cuts. Next, low wages for the working class are a result of Capitalism. The unregulated industries that the free market allows for are causing working conditions and wages to diminish almost every day. Socialists view the freedom that Capitalism promotes as doing nothing but allowing the rich to get richer while the poor get poorer. In order to stop the poverty that is growing due to Capitalism, Socialists believe that the United States must switch to Socialism as an economic