3 years ago
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about Obama Socialism
Is President Obama turning USA into a SOCIALIST state? If so, is this a bad thing?
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The U.S. is not becoming a socialist state. To be socialist, the government would have complete control of the means of production and distribution of wealth. Even with bank takeovers and corporate bailouts, the most the U.S. can claim is they are shareholders in the corporations. There is no intent or desire to hold an ownership stake in the companies any longer than necessary.
Like anything else, any given economic system taken to an extreme can be problematic. There are also aspects every system that are beneficial. No matter which system is used, there are an ample number of players that can and will game the system to their own exclusive benefit.
The term "socialism" is usually used in the U.S. to inspire reflexive fear and hatred, and should thus invite increased scrutiny of the speaker's thesis. However, the U.S. has a long, long way to go before we could be considered a socialist state.
Like anything else, any given economic system taken to an extreme can be problematic. There are also aspects every system that are beneficial. No matter which system is used, there are an ample number of players that can and will game the system to their own exclusive benefit.
The term "socialism" is usually used in the U.S. to inspire reflexive fear and hatred, and should thus invite increased scrutiny of the speaker's thesis. However, the U.S. has a long, long way to go before we could be considered a socialist state.
source(s):
Econ 101
Statements by President Obama
Econ 101
Statements by President Obama
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