Daniel R. Gerke: Socialism is a tool, just like capitalism
In the United States many people fear concepts and ideas because they don’t understand them. Between not understanding key concepts and their belief that their country is always right (jingoism), they don’t completely analyze situations.
Socialism is an economic theory of social organization that advocates the means of production, distribution and exchange should be owned or regulated by the community as a whole. When we pass a bond to build schools, roads, libraries, hospitals, parks or any other public resource, we are using socialism. When we pass legislation to regulate the environment for the benefit of the public, we are using socialism. It is an economic tool available for when circumstances warrant.
Capitalism is an economic system in which a country’s trade and industry are controlled by private owners for profit. Capitalism is a good system to promote innovation and efficiency. It allows resources to be focused on a set goal. However, capitalism caters to the human flaw of greed. It sometimes becomes extreme; making a profit justifies offenses against the environment or the general population.
Both capitalism and socialism are tools, and only tools; both should be regulated by the government
Daniel R. Gerke, Modesto
This story was originally published February 22, 2016 at 5:35 PM with the headline "Daniel R. Gerke: Socialism is a tool, just like capitalism."