Capitalism vs. Socialism

1. Socialism. The problem with socialism is its historical legacy of inefficiency and the production constraints (resulting in chronic shortages and long queues in shops) driven by a dysfunctional, centralised command-control economic system of government.

   The nuclear fall-out of this system is the phenomenon where people, especially those comrade  bureaucrats in government, are all jostling for position in the state machinery from where they somehow can concoct the best deal for themselves with the paltry pickings available, either in cash or benefits of some kind. As socialism is not necessarily a system conducive to spectacular wealth production, too many people are chasing too few resources, opportunities, advantages and benefits available, which in turn creates exploitation and corruption on a grand scale in a state where unemployment, economic destitution, poverty and privation run rife.

2. Capitalism. The problem with capitalism is that, for the very reason that it is a wealth-producing economic system par excellence, in such a system there usually is a lot of money and wealth to go around and, as socialist countries do not have a monopoly on sin, crime and corrupt people, the criminal and corrupt element in capitalist systems will rear its foul head (in the same way it does in socialist countries) to take advantage of the system in which benefits and proceeds from collusion, bribery, crony deployment, fraud & corruption are inordinately lucrative and more rewarding than anywhere else. They steal so much because there's a lot to steal. 

3. God's Economic system-of-choice. The Biblical record shows that God’s economic system-of-choice for man-kind is a free-market system (capitalism) where all of those Judeo-Christian values such as industriousness, hard work, diligence in business, private property-ownership* (everyman to his own ‘fig tree’ and ‘thou shalt not covet another man’s house, wife or ox’ etc.) can prevail freely.

*See the 'Ten Commandments': (i) Exodus20 or (ii) Deuteronomy 5.  

4.. There's a New World Coming.    Sadly, due to the fact that we live in a broken Universe and a fallen society and, although the capitalist, freemarket system is the better option by far to encourage innovation, entrepreneurship, jobs and economic prosperity, neither of these two systems are currently ideal. I think it was Winston Churchill who has said that capitalism is the unequal distribution of wealth while socialism is the equal distribution of misery ... history has shown this to be true. When Jesus Christ returns, however, He is going to rule the nations in perfect justice of a different kind i.e. with a ‘sharp sword’ and a  ‘rod of iron’ [Revelation 19:15].

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