Reality & Society: Socialism vs. Capitalism- Your Healthcare System
Capitalism is based around a free market economy, meaning an economy that distributes goods and services according to the laws of supply and demand. The law of demand says that increased demand for a product means an increase in prices for that product. Signs of higher demand typically lead to increased production. Government planners and planning mechanisms are not infallible, or incorruptible. In some socialist economies, there are shortfalls of even the most essential goods. Because there's no free market to ease adjustments, the system may not regulate itself as quickly, or as well. Equality is another concern. In theory, everyone is equal under socialism. In practice, hierarchies do emerge and party officials and well-connected individuals find themselves in better positions to receive favored goods. https://www.thelionstares.com/post/reality-socialism-vs-capitalism-how-healthcare-can-never-become-a-single-payer-system --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/lions-tares/support