Rich or poor, worker or manager, grass roots or higher authority, we’re all people. Whether you choose to acknowledge it or not. Although money is always the focus; the end goal, people are the fuel of business and economic expansion; without workers, the system dissolves, and socialism supports the economic and social rights of these at the grass root level of society by allowing them a fair distribution wealth. On the other hand, capitalism is not controlled by the state, but rather private owners for profit, meaning the wealth distribution is regulated by an individual, rather than the community as a whole, and often the higher powers exploit their workers. Capitalism may have economic benefits, such as freedom from government price control and growth due to the incentive for individual company owners to increase productivity as they’re in control of their profit, however what good is a thriving economy in a country of social injustice. Capitalism may benefit the rich, but socialism benefits all of us.
Of course it is a valid argument that not everyone is entitled to same wage when such a wide variety of jobs exist, some which require higher level skills and education. And before anyone accuses me, I’m certainly not a communist; I don’t believe in any kind of political extremism and communism cannot work on a large scale as put simply; it’s unfair that someone else should get what you worked to hard for. However even ‘lowest level’ workers are human and are working hard to survive and make a life for themselves and their families, so surely deserve a fair wage, although it will be less than that of someone in a higher order system. But that is the issue with Capitalism; it is a selfish system. An owner works to profit themselves and is not legally required to evenly distribute their wealth amongst their workers, and therefore have no incentive to. And it increasingly seems our money mad minds control the portion of our brain that values human rights, leaving the owner with a happy handful of profit and the workers struggling to make a decent living. Care workers, some of the most important workers of all, are underpaid by an estimated £130 million a year in Britain’s Capitalist system. Although these workers are not ones of high power they contribute to the welfare of British citizens and therefore do not deserve to be overlooked just because a rich firm owner wants to make a profit.
Stating that owners have more motivation to work harder as a result of a Capitalist system is fair, but then what incentive do the lower workers in the firm have if they’re not going to benefit financially. Strikes have been apparent since the end of the industrial revolution, the most recent being the Southern Trains strike that was confirmed a few days ago; it is clear that the countries workers are not content, and the more unrest there is, the less productivity there will be. Although all business revolves around money making, people are the cogs of the firm and nothing will function if they are not content; Socialism ensures these individuals are paid a substantial amount which I believe will increase productivity in business whilst conserving the economic and social rights of citizens which should be a higher priority than single business owners indulging in excess wealth. And surely once the workers are happy, productivity will increase thus leading to futher economic growth. Surveys show that Socialism is more popular with the British Public, with 39% viewing Capitalism ‘unfavourably’ compared to 32% viewing Socialism negatively, clearing illustrating a public desire to move towards Socialism.
Capitalism may benefit the already wealthy, but in reality the highest class only makes up 6% of our population; so these benefits hardly outweigh the costs to the lower classes. Economic benefits are always the main argument for Capitalism, but I believe social benefits should be prioritized; Capitalism strips the lowest workers of their economic rights thus reducing their quality of life, so improve social standards through Socialism and economic benefits for all individuals will follow. And the most important part of that is that it works for all of us, because every human deserves the best life possible. Not just the elite few.