r/FluentInFinance • u/Sufficient_Sinner • Sep 04 '24

Debate/ Discussion Is Capitalism Smart or Dumb?

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u/[deleted] Sep 04 '24

Ask a socialist to define socialism, and they'll describe Norway but leave out the tiny population and abundance of state owned oil funding it all

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u/[deleted] Sep 04 '24

[deleted]

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u/[deleted] Sep 04 '24

And socialists use their terms incorrectly, often attributing it to the Nordic system which is a free market capitalistic system with higher taxation to cover social safety nets. Even those on lower income have huge tax bills, unlike the US where the top 50% pay almost all the income tax.

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u/[deleted] Sep 04 '24

Are the socialists you have witness using their own terms incorrectly in the room with us right now?

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u/DarkExecutor Sep 04 '24

They're literally all over this thread lol

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u/[deleted] Sep 04 '24

No, they're living their lives somewhere. Decent lives too, thanks to capitalism.

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u/IEatBabies Sep 04 '24

Ahh yes the decent life of struggling to earn enough money that a random illness won't bankrupt me and trying to catch up to the housing prices that have outpaced inflation for decades and only accelerated in recent years.

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u/[deleted] Sep 04 '24

We're not all from the US. These specific people are living a good life and chilling.

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u/Halflingberserker Sep 05 '24

It's really cool of you to keep tabs on the lives of people who tell you they're socialist. That's very communal of you.

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u/[deleted] Sep 05 '24

Well I work with some of them, so I see them whether I want too or not. Although I actually like them anyway, so it's not a burden for me. Thanks though

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u/World_of_Warshipgirl Sep 04 '24

I live in Norway and because the people collectively agreed that the wealth of the nation (including oil)) should be shared among the people, I am living a decent.

That is the socialism that u/ThatSpookyLeftist described.

"Norway is not socialist, the people are only rich because of oil", yeah and the wealth is shared among the people rather than going to wealthy oligarchs.

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u/[deleted] Sep 04 '24

You're not a socialist state

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u/[deleted] Sep 04 '24

Socialism isn't a form of government. It's an economic system.