A Balanced Economic State Essay

This essay has a total of 1249 words and 5 pages.

A Balanced Economic State



Adam Phillips
Angel Kegley
Dawn Nunn
Brian Brisson

SOCIALISM
In a socialist society the means of production are owned by the workers rather
than by a rich minority of capitalists or functionaries. Such a system of ownership is both
collective and individual in nature. It is collective because society can control
production unlike the economic anarchy of capitalism and because production is for the
common good rather than for individual profit.
At the same time it is individual because workers are no longer a 'collective' mob
of alienated non-owners employed by a minority of owners. Work becomes a free and
self-affirming activity for each worker and they receive the full fruits of their labor. The
capitalists and their servants no longer control production nor grow rich from other's toil.
Everybody is an owner. Socialism is genuine free enterprise.
The personally empowering and cooperative nature of socialist ownership
underpins similar changes in other aspects of life. Socialism means far healthier
individuals and human relationships. It means full participation by each individual in the
intellectual, cultural and political life of society. Socialism requires a revolution with
three main stages: firstly the emergence of a workers' movement committed to socialist
revolution, secondly the achievement of political power and the expropriation of the
capitalists and thirdly a period during which workers learn how to be owners and rulers
and cast off the psychological and ideological dross of the past.
Socialism will not be an utopia simply created in people's minds. It will be the
product of economic and social development. In developed countries it is now possible
for everyone to live a reasonably affluent life and be free of long hours of routine toil.
This creates a better basis for cooperation and mutual regard. Historically, where equality
would have meant shared poverty, it was inevitable that a minority would plunder,
enslave and exploit the majority. At the same time rank and file workers are
progressively acquiring through their experiences, the abilities to do without an elite.
Their general level of education and training has advanced significantly over the last
couple of generations. The work they do, while still totally oppressive, has an
increasingly mental and conceptual content. And they now have extensive access to
cultural and intellectual resources and the diverse experiences of living in a modern
society. So while socialism was impossible in the past, these emerging conditions make it
inevitable in the future.
CAPITALISM
One will recall from the "Aquinas" document that Aquinas added some new
dimensions to such ideas as wealth, trade, and the taking of interest. Wealth was no
longer "unjust" if that wealth was used to maintain one's station in life. Interest could be
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