CASE AGAINST SOCIALISM

Case against socialism The right to own property is central to man’s existence. Private ownership of property (including land, businesses and goods) gives individuals security and a means to control their own affairs. Ownership brings responsibility and allows individuals to plan for the future so as to provide for themselves and their families. For example, owning a house, a business or some land makes it possible to borrow against that property so that individuals can invest for the future. The lack of private property rights in much of Africa makes such borrowing and investment impossible, and is one reason for the continent's lack of economic growth. The wealth of the earth belongs to all men or to none. Under capitalism, property is concentrated into the hands of relatively few well-off people, leaving the many with nothing and at the mercy of the rich for work, charity, etc. This leads to gross inequality, exploitation and misery. Nor is it economically efficient, as the rich have so much already they have no incentive to use their land productively. Socialism seeks to redistribute wealth and to ensure that the means of production are at the service of the whole of society, so that all can benefit and none will go without. The drive to succeed as an individual is the strongest motivating factor a human being can feel in their work. When work is uncoupled from reward, or when an artificial safety net provides a high standard of living for those who don’t work hard, society suffers. The fact that individuals are driven to succeed is in all our interests.