so⋅cial⋅ism [soh-shuh-liz-uhm] noun (1)
A theory or system of social organization that advocates the vesting of the ownership and control of the means of production and distribution, of capital, land, etc., in the community as a whole.
Socialism refers to a broad set of economic theories of social organization advocating public or state ownership and administration of the means of production and distribution of goods, and a society characterized by equality for all individualsWe now live in a country where the leader wants to "REDISTRIBUTE THE WEALTH". That was the driving force behind the Bolshevik Revolution(2) of 1917; the start of the USSR. The idea was that the "capitalists" had gotten wealthy on the back of the "proletariat", and that the common people should take the farms and factories, put them in common (government) control and distribute the product equally. So...how well did that turn out?
The recent firing of the General Motors CEO Rick Wagoner(3) by president Obama sets a dangerous precedent. When the government gets in the business of private business, it's no longer private. One only has to look at North Korea and China to see the pitfalls. Without profit incentives to attract talent, private firms will wither and die. And...if a ceo or board of directors believe that the president or congress has the authority to sack them at will, their decisions suddenly become political rather than financial.
There seems to be a prevailing opinion that "PROFIT=EVIL". Where do people think that jobs come from? If a corporation(and the associated management team) is making a large profit, they are going to create more jobs and hire more people in an effort to make bigger profits. By the same token, if profits go away, jobs get cut. Just check out the current job market(4) and compare it with corporate earnings(5) over the last year! Then, the next time you or someone you know gets laid off, think about what would be happening if your (ex) employer was making MORE money instead of losing it.
Thats my opinion. What's yours?