Skip to main content

Economic Systems: Communism, Socialism, Free - Market - Part 1

Image
By

 +

JMJ

 I live in a country that some call 'socialist' ... and I recall looking up the definition once and found that the label didn't fit.

So I've decided to do a shallow dive into the different economic systems with a focus on Communism, Socialism and Market Driven.

In Socialism - the means of production are not owned by individuals, but by a collective of some sort, such as the Government.  

In Canada we have Crown Corporations that are own and managed by the Government.  So these do appear to be 'Socialist', however they are the exception not the rule and are generally focused on areas of national importance (See list at end of article).

 I've attached some excerpts below and have concluded that the Canadian Health system is not inherently socialist because the 'method of production' - meaning the hospitals - are not generally owned by the government, but privately via corporations.  What most people don't seem to know is that the Canadian Health system is a single insurer system - the insurer is the Government of Canada and, unlike most of the hospitals in the USA, it is not a for-profit system. 

However, one part does ring true with regards to the "emphasis on an equitable distribution of wealth among citizens".  This is what I call the Robin-Hood democracy, in which the Government seeks to tax the wealthy to fund social programs.  This does seem to create a problem as it is effectively punishing people for being successful by forcing them to pay higher taxes.  This disincentive will cause them to look for ways to preserve their wealth.

Keeping in mind that successful people generally employ other people. If you disincentive the creative, entrepreneurial, leaders, then you impact the economy. I foresee that the Government would just try to move more money to the rest of the economy but this will probably be a death spiral since they have cut the the productive actors within the economy who promote growth.

Conclusion

 So Canada isn't a 'Socialist' country following the basic factors I found in my research. However, the actions of the Government definitely seem to follow the Socialist principles.

P^3

 

 

So first, what are they key facets of Socialism?  The key element is focused on who owns the means of production. In this case of  'socialism' the means of production are held in common by the people.

 Socialism is a populist economic and political system based on:

  • collective, 
  • common, 
  • or public ownership of the means of production. 
  • Those means of production include the machinery, tools, and factories used to produce goods that aim to directly satisfy human needs.

In contrast to capitalism, whereby business owners control the means of production and pay wages to workers to use those means, socialism envisions shared ownership and control among the laboring class.   Source: https://www.investopedia.com/terms/s/socialism.asp

 

Key Takeaways

  • Communism and socialism are political and economic systems that share certain ideologies, including greater equality in the distribution of income.
  • Both are rejections of capitalism, instead giving economic power to the working class.
  • One way that communism differs from socialism historically is that the former calls for the transfer of power to the working class through revolutionary rather than gradual means.
  • Both communism and socialism advocate public control of the means of production, although socialism allows for the continued existence of capitalism in some parts of the economy.
  • In reality, communist systems have not been very successful to date.

Communism

In basic terms, communism is a philosophy based on the equitable distribution of wealth among a nation’s citizens and common ownership of all property. In particular, it calls for the control of the means of production, such as manufacturing and agriculture, by the working class, or proletariat. Its ultimate goal is to achieve a classless society, at which point the state (or government) would “wither away.”1

Contemporary communism is an offshoot of socialism and is sometimes called revolutionary socialism for advocating the takeover of governmental powers by the working class through revolution rather than incremental reform.

Socialism

Socialism encompasses a broader spectrum of political beliefs but shares communism’s emphasis on an equitable distribution of wealth among citizens, as well as public ownership of the means of production, though not necessarily all of them. In that sense, socialist programs and policies can exist alongside capitalism in a society, which is less likely in a communist system. Socialists may or may not see a communist system as their end goal.Source: Investopia: Communism vs. Socialism: What’s the Difference?


 

 

 

Other References

https://en.wikipedia.org/wiki/Economic_system

https://en.wikipedia.org/wiki/Socialism

https://en.wikipedia.org/wiki/Socialist_economics

https://www.investopedia.com/ask/answers/100214/what-difference-between-communism-and-socialism.asp

https://www.canada.ca/en/treasury-board-secretariat/services/guidance-crown-corporations/list-crown-corporations.html

 

List of Crown Corporations

 

A
Atlantic Pilotage Authority III-I December 31 Transport
Atomic Energy of Canada Limited III-I March 31 Natural Resources
 
B
Bank of Canada Exempt December 31 Finance
Blue Water Bridge Authority III-I August 31 Transport
Business Development Bank of Canada III-I March 31 Industry
 
C
Canada Council for the Arts Exempt March 31 Canadian Heritage
Canada Deposit Insurance Corporation III-I March 31 Finance
Canada Development Investment Corporation III-II December 31 Finance
Canada Lands Company Limited III-I

March 31

Public Works and Government Services
Canada Mortgage and Housing Corporation III-I December 31 Human Resources
Canada Pension Plan Investment Board Exempt March 31 Finance
Canada Post Corporation III-II December 31 Transport
Canadian Air Transport Security Authority III-I March 31 Transport
Canadian Broadcasting Corporation Exempt March 31 Canadian Heritage
Canadian Commercial Corporation III-I March 31 International Trade
Canadian Dairy Commission III-I July 31 Agriculture and Agri‑Food
Canadian Museum of Civilization III-I March 31 Canadian Heritage
Canadian Museum for Human Rights III-I March 31 Canadian Heritage
Canadian Museum of Immigration at Pier 21 III-I March 31 Canadian Heritage
Canadian Museum of Nature III-I March 31 Canadian Heritage
Canadian Race Relations Foundation Exempt (Part X) March 31 Citizenship and Immigration
Canadian Tourism Commission III-I December 31 Industry
Corporation for the Mitigation of Mackenzie Gas Project Impacts III-I March 31 Aboriginal Affairs and Northern Development
 
D
Defence Construction (1951) Limited III-I March 31 Public Works and Government Services
 
E
Enterprise Cape Breton Corporation III-I March 31 Atlantic Canada Opportunities Agency
Export Development Canada III-I December 31 International Trade
 
F
Farm Credit Canada III-I March 31 Agriculture and Agri‑Food
Federal Bridge Corporation Limited, The III-I March 31 Transport
Freshwater Fish Marketing Corporation III-I April 30 Fisheries and Oceans
 
G
Great Lakes Pilotage Authority III-I December 31 Transport
 
I
International Development Research Centre Exempt March 31 Foreign Affairs
 
L
Laurentian Pilotage Authority III-I December 31 Transport
 
M
Marine Atlantic Inc III-I March 31 Transport
 
N
National Arts Centre Corporation Exempt August 31 Canadian Heritage
National Capital Commission III-I March 31 Foreign Affairs
National Gallery of Canada III-I March 31 Canadian Heritage
National Museum of Science and Technology III-I March 31 Canadian Heritage
 
O
Old Port of Montreal Corporation Inc Reports as a Parent March 31 Public Works and Government Services
 
P
Pacific Pilotage Authority III-I December 31 Transport
Parc Downsview Park Inc Reports as a Parent March 31 Public Works and Government Services
Public Sector Pension Investment Board Exempt (Part X) March 31 Treasury Board
 
R
Ridley Terminals Inc III-I December 31 Transport
Royal Canadian Mint III-II December 31 Finance
 
S
Standards Council of Canada III-I March 31 Industry
 
T
Telefilm Canada Exempt March 31 Canadian Heritage
 
V
VIA Rail Canada Inc III-I December 31 Transport

Labels:

Comments

Post a Comment

Popular posts from this blog

Comparision of the Tridentine, Cranmer and Novus Ordo Masses

By
+ JMJ I downloaded the comparison that was linked in the previous article on the mass (here) . ... a very good reference! P^3 From: Whispers of Restoration (available at this link) . CHARTING LITURGICAL CHANGE Comparing the 1962 Ordinary of the Roman Mass to changes made during the Anglican Schism; Compared in turn to changes adopted in the creation of Pope Paul VI’s Mass in 1969 The chart on the reverse is a concise comparison of certain ritual differences between three historical rites for the celebration of the Catholic Mass Vetus Ordo: “Old Order,” the Roman Rite of Mass as contained in the 1962 Missal, often referred to as the “Traditional Latin Mass.”The Ordinary of this Mass is that of Pope St. Pius V (1570) following the Council of Trent (1545-63), hence the occasional moniker “Tridentine Mass.” However, Trent only consolidated and codified the Roman Rite already in use at that time; its essential form dates to Pope St. Gregory the Great (+604), in whose time the R...
Post a Comment
Read more

SSPX and the Resistance - A Comparison Of Ecclesiology

By
Shining the light of Church Teaching on the doctrinal positions of the SSPX and the Resistance. Principles are guides used to aid in decision making.  It stands to reason that bad principles will lead to bad decisions. The recent interactions between Rome and the SSPX has challenged a number of closely held cultural assumptions of people in both sides of the disagreement. This has resulted in cultural skirmishes in both Rome and the SSPX. Since it is the smaller of the two, the skirmishes have been more evident within the SSPX.  The cultural fault-line that Bishop Fellay crossed appears to be linked to two points of Catholic Doctrine: Ecclesiology and Obedience.  The cultural difference of view points is strong enough that it has resulted in the expulsion of a number of members.  It should also be noted that some other priests expelled since the beginning of the latest interactions (starting in 2000) held the same view points and have joined with the l...
8 comments
Read more

If Pope Francis is bad - what about Pope St. John Paul II et al?

By
+ JMJ So here we are on the apparent cusp of yet another post conciliar Papal canonization. This time we have Pope's John-Paul I and Paul VI canonizations to 'look forward' to. This follows, obviously, on the heels of Pope St. John Paul II's canonization? So the first question that I usually encounter is: How is it possible, keeping in mind the doctrine on infallibility of canonizations (note doctrine not dogma), that Pope St. John Paul II is a Saint? First, what does it mean???  According to the doctrine of dogmatic facts - it is the universal opinion of Theologians that canonizations are infallible.  It means that they enjoy the beatific vision.  ... that's it.  That is the doctrine and it is at the level of universal opinion of theologians.  It is called a 'dogmatic fact'. That they made mistakes is obvious.  That the miracles seem to not be very miraculous is also a bit of an issue. Here's something to consider: The rush that surrou...
16 comments
Read more

Spiritual Journey Archbishop Marcel Lefebvre - Extracts

By
+ JMJ I have posted these two chapters to provide context for the quote of: It is, therefore, a strict duty for every priest wanting to remain Catholic to separate himself from this Conciliar Church for as long as it does not rediscover the Tradition of the Church and of the Catholic Faith. P^3 Courtesy of SSPX.ca Chapter II The Perfections of God We ought to remember during this entire contemplation of God that we must apply all that is said of God to Our Lord Jesus Christ, Who is God. We cannot separate Jesus Christ from God. We cannot separate the Christian religion from Jesus Christ, Who is God, and we must affirm and believe that only the Catholic religion is the Christian religion. These affirmations have, as a result, inescapable conclusions that no ecclesiastic authority can contest: outside of Jesus Christ and the Catholic religion, that is, outsi...
Post a Comment
Read more

Dogmas of the Catholic Faith (de fide) - Expanded Listing: Answer for Reader

By
 + JMJ  A reader asked the following question in the 2015 version of the article on the Dogmas of the Catholic Faith (link) : 117: "In the state of fallen nature it is morally impossible for man without Supernatural Revelation, to know easily, with absolute certainty and without admixture of error, all religious and moral truths of the natural order." Where can you find this in the documents of the Church? ( Link to comment )  Here's the reference from Ott: The citation that Ott provided was Denzinger 1786 and the source document is Dogmatic Consitution Concerning the Faith from the First Vatican Council (Papal Encyclicals - link) : Chapter 2 On Revelation, Article 3: It is indeed thanks to this divine revelation , that those matters concerning God, which are not of themselves beyond the scope of human reason, can, even in the present state of the human race, be known by everyone, without difficulty, with firm certitude and with no intermingling of error. Here's ...
Post a Comment
Read more