“Without motivation to succeed, such as the ability to own an income-producing business, workers’ human instincts prohibit drive and desire that is produced through such incentives.” –Investopedia
I looked at two different web pages this evening after coming in from work. The first page was put up by the World Socialist movement. It gave a basic definition of Socialism, in which the needs of society are met by the members of society working together to come up with the necessaries to supply those needs. It is a system wherein common ownership of production is limited to certain nationalized segments and the people have the right to, in return, contribute accordingly.
The second page was Investopedia. Look up the difference between Communism and Socialism on Investopedia, and you’ll find a very capitalist interpretation. Though the article’s primary criticism of Socialism is that it limits monetary incentives to produce more efficiently.
I’ve read enough of Harvard Business School, Inc., Fast Company, and other work related sights to know that money is rarely the primary factor in incentivizing workers. Yet if one is allowed to extend the discreet to the general, Investopedia is an extreme capitalist viewpoint of systems that have worked in northern Europe and to a certain extent in Asia and elsewhere.
I find this particularly interesting as the United States will support Socialist governments so long as they promise not to extend their policies further to the left and become Communists.
This is the case with Lee Kuan Yew. A Socialist, and a non-Communist, who used the Communists to rise to power and then, in order to foster union with Malaya and the other Straits Settlements, forced the Communists from the PAP. But even then he was courting extremely left wing governments for support. Visiting Nehru in India, Tito in Yugoslavia, and others, all in an effort to gain worldwide support for consolidation.
Lee managed to get by with it, though he was criticized by the British colonialists for his rather leftist leanings and contacts. I wonder what will happen once Singapore reaches Independence. Will Lee Kuan Yew become an Autocrat with Socialist bent? Or will the Joker cut Batman and Robin to smithereens? Tune in at the same Bat Time and the same Bat Channel.