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Germany in WW2
Economics

Is redistribution of wealth socialism?

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August 01, 2012 2:57AM

That depends on who it is redistributed to. If wealth were redistributed to individuals (say for example to make people's shares more equal), but remained privately owned and controlled by individuals, that would not be socialism. But if it were redistributed to collective ownership in any form, or retained in government ownership, or if its use were controlled by the government despite different assets nominally belonging privately to individuals that would be socialism.

Whether the USA needs socialism, and whether socialism goes against human nature, and whether redistributive change is counterproductive to the entire society are questions that are not related to which forms of redistribution are socialist.

NOTE: it is well worth paying close attention to the difference between a redistribution of wealth and a redistribution of income.