Yes if the majority of people supported it
Yes but not now
No. Socialism never works.
No because people would never accept it
Nope. Socialism is a defeatist attitude, and America doesn't really embrace admitting to being losers.
There is nothing stopping them.
Go for it.
But a business does not belong to the workers who have traded their labor to the employer for a wage.
It belongs to the owner(s) who put the investment in to start it.
Last edited by Excon; 12-26-13 at 05:15 PM.
"The law is reason, free from passion."
Pure socialism.... no. All the data shows that capitalism is the best system in the history of the world when it comes to creating wealth. The problem is, it tends to leave some people behind. For that reason, I do believe in managed capitalism.
I like the form of capitalism that exists in Western Europe and think we should seek to emulate it over here.
joG, see Kaldor–Hicks efficiency.
To sum it up, by shifting resources in the economy, a gain in benefit to one individual could be greater than the loss in benefit to another individual. Therefore, before such a shift, the market is not allocatively efficient, but might be Pareto efficient.