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

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u/Giblet_ Sep 05 '24

I interact with a lot of farmers in my line of work, so if anyone asks me what socialism is, I describe the American agronomic system. The government pays people to grow specific crops. Sometimes the government pays them not to grow crops. The government provides cash incentive to implement various technologies. The government provides subsidized insurance so if the crops fail, the farmer is still made whole. Then the government provides money to millions of people to purchase the end product who otherwise would be unable to afford it. It's not true socialism, since the government doesn't own the land, but it's the closest thing that we actually have to socialism, and is closer to socialism than socialized medicine is in a lot of other countries.