What are the disadvantages and advantages of socialism?
- In environments with plentiful resources, socialism provides
all members with their survival needs, creating a stable social
- Members that cannot participate economically - due to
disabilities, age, or periods of poor health - can still impart
wisdom, emotional support and continuity of experience to the
- Freedom from work provides opportunity for some societal
members to explore non-economically-productive pursuits, such as
pure science, math and non-popular arts.
- Since there is no culling and no economic advantage to working
harder, socialistic systems provide no inherent incentive to
participate. This makes socialism internally unstable.
- Due to a lack of incentives, socialistic systems tend not to be
competitive, making them externally unstable.
- In times of plenty, immigrants are drawn to the free resources
offered by socialistic systems, while potentially adding nothing
- In times of scarcity, resentment of non-economically-productive
members of society increases, causing a destabilizing effect on the
society and economy.