Socialism - Criticism of Socialism

Criticism of Socialism

Economic liberals and pro-capitalist libertarians see private ownership of the means of production and the market exchange as natural entities or moral rights, which are central to their conceptions of freedom and liberty; they therefore perceive public ownership of the means of production, cooperatives and economic planning as infringements upon liberty. Some of the primary criticisms of socialism are claims that it creates distorted or absent price signals, results in reduced incentives, causes reduced prosperity, has low feasibility, and that it has negative social and political effects.

Critics from the neoclassical school of economics criticise state-ownership and centralisation of capital on the grounds that there is a lack of incentive in state institutions to act on information as efficiently as capitalist firms do because they lack hard budget constraints, resulting in reduced overall economic welfare for society. Economists of the Austrian school argue that socialist systems based on economic planning are unfeasible because they lack the information to perform economic calculation in the first place, due to a lack of price signals and a free price system, which they argue are required for rational economic calculation.

Read more about this topic:  Socialism

Other articles related to "criticism":

Joseph Justus Scaliger - Academic Output
... It was during this period of his life that he composed and published his books of historical criticism ... He was the first to lay down and apply sound rules of criticism and emendation, and to change textual criticism from a series of haphazard guesses into a "rational procedure subject to fixed laws" (Mark ... Instead, they valued his emendatory criticism and his skill in Greek ...
Yuri Knorozov - Critical Reactions To His Work
... some severe and at times dismissive criticism ... Knorozov persisted with his publications in spite of the criticism and rejection of many Mayanists of the time ... his position and standing at the institute was not adversely influenced by criticism from Western academics ...
Yoot Tower - Criticism
... The game was dismissed by some game review websites and magazines as being too much a rehash of the original SimTower ... Many wrote the game off as being basically identical to its predecessor ...
Psychoanalytic Literary Criticism - Overview
... The object of psychoanalytic literary criticism, at its very simplest, can be the psychoanalysis of the author or of a particularly interesting character in a ... In this directly therapeutic form, the criticism is very similar to psychoanalysis itself, closely following the analytic interpretive process discussed in Freud's The ... However, more complex variations of psychoanalytic criticism are possible ...
TSR, Inc. - Criticism
... The company was the subject of an urban myth stating that it tried to trademark the term "Nazi" ... This was based on a supplement for the Indiana Jones RPG, in which some figures were marked with "NaziTM" ...

Famous quotes containing the words criticism of, socialism and/or criticism:

    I, with other Americans, have perhaps unduly resented the stream of criticism of American life ... more particularly have I resented the sneers at Main Street. For I have known that in the cottages that lay behind the street rested the strength of our national character.
    Herbert Hoover (1874–1964)

    Men conceive themselves as morally superior to those with whom they differ in opinion. A Socialist who thinks that the opinions of Mr. Gladstone on Socialism are unsound and his own sound, is within his rights; but a Socialist who thinks that his opinions are virtuous and Mr. Gladstone’s vicious, violates the first rule of morals and manners in a Democratic country; namely, that you must not treat your political opponent as a moral delinquent.
    George Bernard Shaw (1856–1950)

    Nothing would improve newspaper criticism so much as the knowledge that it was to be read by men too hardy to acquiesce in the authoritative statement of the reviewer.
    Richard Holt Hutton (1826–1897)