I hate the debate socialism vs. capitalism, because that is like debating between the wishbone offense and the cover two defense, which is better. Well that is not a real debate, because the wishbone is an offense and the cover two is a defense. They are different things, socialism is a political philosophy with yes an economic component to it. But with also positions on social issues, foreign policy and national security. And there are a wide-variety of Socialists like there are different Libertarians.
There are yes Socialists who believes in state-owned enterprise, where the state owns the economy without a private sector. But there are also Socialists who are capitalist, but in a socialist sense. With a large and productive private sector mixed in with a generous welfare state, financed by high taxes. And regulations of the private sector which is common in Europe. But we also have Socialists like that in America in and outside of the Democratic Party what would be called the Far-Left in American politics.
And those Socialists hangout in coffee houses and wear berets and read and listen to French poetry and perhaps have posters of Carl Marx in their communitarian bedrooms that they share with other people. Just like the Marxist Socialists and Communists. Because they share similar values, even when they differ on economic policy. Those Socialists I call Social Democrats, people who want private enterprise to finance a gigantic King Kong size welfare state to treat people like children and manage their economic affairs for them.
The fact is all successful developed countries in the world that are all Democratic by the way, are all capitalist with private enterprise economies, as well as socialist. They all have productive private sectors and they all have welfare states or safety nets, including America. That provides social services for people who need them. It’s just that in America is a bit different and we do not rely on the state to take care of as much when it comes to the economy.
Americans tend to not want a big government to babysit us and manage our economic affairs and treat us like little children. As Uncle Sam manages our lives for us. We tend to believe that Americans once they have the necessary life skills, they can manage their own affairs for themselves. The closeted Socialists in America who like to call themselves Progressives, or even worst Liberals, which would like be calling Rick Santorum or Jerry Falwell a Libertarian, who tend to believe Americans are stupid. And need Uncle Sam to manage our affairs for us with a King Kong size unlimited big government.