Socialism is one form of ethical economics and capitalism another.
Socialism’s ethic is egalitarian economics, capitalism’s ethic is noncoercive economics and free competition.
The two are compatible in market socialism, but incompatible in state socialism, coercive social anarchism and an inegalitarian market.
More specifically socialism is the workers/people democratically owning and running the means of productions, whether directly through cooperatives or indirectly through unions and the state.
While theoretically this could still lead to the enormous economic disparaties we see in capitalism, practically it’s highly unlikely.
While I think more tenacious, talented and contributive people should be rewarded, I don’t think some people should be rewarded as much as capitalism does.
Capitalism has a few meanings.
One is a noncoercively competitive market, private property.
Two is the means of production (business, especially big, mechanized and stratified business) being owned and ran by one or a handful of men hiring workers to produce, what’s known as wage labor or disparagingly as wage slavery.
Again I’m a social capitalist.
What this means to me is the bigger, more mechanized and stratified business is, the more unhealthy and unsafe for its workers, consumers and the environment, the less competitors it has (cartels, conglomerates, megacorps, multinationals, oligopolies), the more it’s been subsidized by and received tax breaks from government or found tax loopholes (corporatism), the more I think it should be nationalized and unionized and/or cooperativized and/or kept private but heavily taxed and regulated.
So I’m in favoring of using socialism to mitigate what we see as the worst aspects of capitalism, rather than socializing the market completely.
This is what we do already, except we do it poorly, we let megacorps run amok while the overwhelming majority of us live in or near poverty.
Right
I believe in having a strong military, particularly to counter China, however if we save instead of spend trillions of dollars on the war for drugs and terror, stop subsidizing big business while increasing taxes on and forcing them to pay, if we cut foreign aid, especially to Israel, if we nationalize the central banks, we won’t have to tax the working/middle classes to keep funding the military at this rate.