Thoughts on "Socialism Sucks" by Dr. Ben Powell
Introduction
Dr. Ben Powell’s argument against socialism is compelling, interesting, and provocative. Although I have little education over economics, his lecture was well communicated and overall, I found myself agreeing with him. Right off the bat, I thought his opening statement about the moral connotations we have about different economic systems was thought provoking. Secondly, some of the aspects of socialism that Dr. Powell describes prove to me that this system would not bode successful in the United States. Additionally, one of the best points Dr. Powell makes, in my opinion, is that most aspects of socialism that people support could actually be achieved through different means. Lastly, this lecture left me wondering how it applies to my own life, particularly through Dr. Powell’s brief discussion on healthcare towards the end.
Morality of Economic Systems
The idea that capitalism reflects selfishness whereas socialism represents fairness is simply an unfair statement in itself. Socialism may appear to be about equality and fairness on paper, but as Dr. Powell explains, when you visit countries that utilize this economic system, their citizens are not being treated fairly. For example, how is it fair that someone who works harder than another is not compensated for their additional contributions to society. This is particularly important for those with families to provide for, which goes to show one way that capitalism is not necessarily selfish. Money serves as an important incentive in society for people to work harder, create new goods and services, and feel rewarded from their careers. Although this seems selfish in nature, giving the entire system a selfish connotation simply does not make sense given that many of the hardworking individuals I know are not working hard for themselves, they are providing for their families or loved ones. Additionally, if people want to use their money selfishly, that is a personal decision that although I morally believe we should give back to others, I do believe people should have the right to manage their own money. All in all, I think it is more appropriate to associate a capitalist economic system with the term “rewarding” rather than “selfish”.
Socialism in America
Dr. Powell mentions that there is a growing support for socialism from adolescents in America and I agree with him that this is flawed thinking. As Dr. Powell explains, socialism implies that there is an agreed upon “central plan” within governments that implement a socialist system. I can’t speak explicitly to the unity of other countries, but I know that given the political climate of the United States of America in recent years, it would be laughable to think we could implement a system that relies on having a central plan. American citizens have vast spectrum of opinions and our two-party system highlights how polarizing these stances can be. Combined with our constitutional rights and foundational emphasis on personal freedom, socialism is simply not a good fit for America, if you can prove it’s a good fit for anywhere at all. Therefore, I think American supporters of socialism should heed Dr. Powell’s point that many of the aspects that they think they like about socialism could be achieved through different means. For example, Dr. Powell’s mention of Sweden made me dig a little deeper into their model of capitalism. From a brief overview, I believe that they embody some of the factors of socialism that people support, like more equal opportunities in healthcare and education. Although there are certainly cons to their system as well, like high taxes, I think for those that support some socialist ideals, the benefits of remaining capitalist and supporting legislators with socialist-leaning beliefs should be considered.
Entrepreneurship in Society
Additionally, Dr. Powell caused me to reflect on the fact that private ownership and entrepreneurship are conducive to not only a successful economy, but an enjoyable society. He represents this through his different experiences at restaurants, stores, and hotels in socialist countries. Previously, I had never thought about the small day-to-day aspects of socialism that influence quality of life and tourism. The number of choices we have at a convenient store seems trivial, but little things such as that summate to a large aspect of our quality of life. Entrepreneurs contribute to our quality of life as well and the abolishment of entrepreneurship in socialist countries is not conducive to prosperity. The fact that Dr. Powell can demonstrate a pattern of citizens in socialist countries finding ways to become entrepreneurs (i.e. selling their hair, renting out their apartments) just goes to show that entrepreneurship is natural and fundamental. Therefore, the abolishment of entrepreneurship in socialist economic systems is a serious flaw to this system. When Dr. Powell mentioned the use of Airbnb, it got me thinking about the accessibility of becoming an entrepreneur in this day and age. People can earn money from social media posts, online marketplaces, driving for ride sharing services, and delivering groceries and food orders placed via mobile apps. Entrepreneurship is a more accessible field than ever and a system that abolishes it is not productive or progressive.
Conclusion
This idea, as well as the other points discussed in this piece are what lead me to agree with Dr. Powell’s views on socialism. All in all, Dr. Powell is an interesting lecturer who, although conveying his own strong opinions, gets his viewers to consider multiple sides of an issue. He left me wondering where I stand on some of the issues he discussed, including different healthcare systems as mentioned at the end of the lecture. After enjoying this lecture from Dr. Powell I would really like to hear his perspective on healthcare systems. As someone who intends to go into the healthcare field, I understand how flawed the American system is and would love to get an economist’s perspective on this aspect of medicine, so I look forward to consuming more content from Dr. Powell.