6 Reasons The Free Market Beats Socialism

The great book, A Politically Incorrect Guide to Socialism points put that capitalism in theory is better to socialism in theory and capitalism in practice is also better than socialism in practice. Here are the six fundamental reasons why I know socialism can never beat the free market and leads to tyranny.

1. In the market, you bear your own costs, which encourages thrift. In socialism you bear others' costs, which encourages wastefulness.

2. In the market, failure leads to exploring new opportunities. In socialism, failure leads to exile, execution, and starvation.

3. When there are too many mouths to feed, the free market makes more food while socialism makes fewer mouths.

4. The market needs individualism and is tolerant of differences. Socialism needs conformity, so it is intolerant of differences.

5. In the market, success and failure are what matter. In socialism, following arbitrary rules is what matters.

6. In the market, you can choose the life that's best for you. In socialism, you are told to live the life that is 'best for society.'

These are just 6 reasons that the market beats socialism, but there are countless more. Market economics is a complex ecosystem and you may not understand it completely. Don't let that be a reason to fall for simplistic arguments about how socialism is a better way.