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Brooks Wilson's Economics Blog: Yikes

Thursday, April 9, 2009

Yikes

In a Rasmussen Reports article titled, "Just 53% Say Capitalism Better Than Socialism," the authors write,
Only 53% of American adults believe capitalism is better than socialism.

The latest Rasmussen Reports national telephone survey found that 20% disagree and say socialism is better. Twenty-seven percent (27%) are not sure which is better.

Adults under 30 are essentially evenly divided: 37% prefer capitalism, 33% socialism, and 30% are undecided. Thirty-somethings are a bit more supportive of the free-enterprise approach with 49% for capitalism and 26% for socialism. Adults over 40 strongly favor capitalism, and just 13% of those older Americans believe socialism is better.

Did the drum beat of right wing talkers calling President Obama's policies socialistic cause this sad result, or are Americans just that ignorant of socialism's deplorable history?

3 comments:

  1. Now this is pretty scary. I for one am a strong believer in capitalism and free enterprise, and that this is the best system for an economy. I believe however, that some may not even know what Socialism is, much less like you said it's failure in history. It doesn't work, it never really has worked, I mean look at Europe and how awesome they're doing. They're basically socialist over there now, and for everyone to have the same range of income through heavy taxation on the middle to upper class and the government to run everything will ultimately result in disaster. It will heavily strain business by slowing production because of less incentive to work, less innovative research and technology and less jobs knowing the government will take care of them no matter what. It also raises the budget deficit substantially, which is what we don't need now.

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  2. I believe the dissolusionment about socialism stems form ignorance. Many (all) people have the unfortunate tendency to only learn about what interests them, even though some things outside of that sphere are pivotally important. Many of the people who answered probably have no earthly idea about the basis of socialism. Another factor is generational forgetfullness. Mankind has always shown that if one generation lears a painful lesson, their offspring will soon forget; think the matter unimportant; and probably learn it just as painfully as their parents did. It can be seen as far back as the Bible, when the people of Israel time and again made the same mistakes as their fathers and suffered the consequences. Socialism sounds good on paper- promising equality and fairness. However, the absence of motivation to innovate and advance leaves it in a shambles.

    Matthew Gill

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  3. Ignorance is no excuse. Those who were "for" or "undecided" about socialism must view socialism in terms of what handouts they receive rather than what liberties and rights they are giving up. They most likely make up the majority . They clearly didn't grow up in a household where hard work and doing your best to earn what you get took place.

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