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Can socialism generate wealth on it's own for a country without any capitalism?
Yes it can generate wealth on its own, but not for long, because in the long run it's too rigid, too centralized and too dictatorial. Which at the end slows down the process of production.
You'd want to add capitalist element in the mix, to help to ease the problems and to give more incentives to people who'd like to run their own business.
Not everything should be downright owned by the government and run by it.
Nope. Moving wealth around doesn’t create more of it. If anything, you lose a lot of it by paying the politicians and bureaucrats who arrange the transfer.
It’s like taking a bucket with a hole in it and moving water from one pool to another.
Nope. Moving wealth around doesn’t create more of it. If anything, you lose a lot of it by paying the politicians and bureaucrats who arrange the transfer.
It’s like taking a bucket with a hole in it and moving water from one pool to another.
Nice image you are projecting, but it has nothing to do with the subject.
Nice image you are projecting, but it has nothing to do with the subject.
Maybe. What I said definitely applies to systems of wealth redistribution. Even Marx said that you need capitalism to generate the wealth before you implement schemes to distribute it out.
Why can't they simply print money like we do to create wealth?
I don’t like paper money because nothing backs it other than good intentions.
Why I collect gold. That makes my wealth tangible. Not nebulous.
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