I read a very interesting article few days back...it was about socialism. It was a simple story to explain why socialism fails.The story was about a teacher who tell his class that socialism will be followed in the class.In class test teacher averages all the scores and gives same marks to everyone,in the next test the students who didn't study well for the first test don't study at all and those who studied study less to ride on a free wave.Thus gradually grade of the class keeps falling until everyone fails in the test.Towards the end the author of story claims,pretty naively though, that this is what socialism all about.
It was a simplistic view of socialism and author went on to tell merits of capitalism,very briefly though.I felt it was very naively constructed story.Few things I would like to comment:
1)Socialism failed,capitalism didn't survive either: I study in a class where I meet people day in and day out.Few of them don't even deserve to be near a B-school,but they share same college and class because in a world of capitalism your status is not based on your capacity but on how much 'wealth' you/your father has acquired.The argument that morale of good student would break in socialist class holds true even in capitalist society.
2)Socialism commits a mistake of assuming every human being is equal,capitalism makes a mistake of assuming individual who has more 'wealth' is certainly better(of higher class) than the one who doesn't have it.
3)No country in the world has ever been a perfectly capitalist country,had we formed one I am sure it would have failed even miserably than socialist countries
All I am saying is no country would prosper without the right amount of differentiation between people, not based on only wealth but other factors as well.
