Friday, July 28, 2023

What Is Socialism Anyway?

Conservative politicians and talk show hosts frequently level the accusation that Joe Biden, Kamala Harris and pretty much the rest of the elites in the Democratic Party are socialists. The charge is either true, or not far from the truth, concerning many of the people it's directed at, but unfortunately not just a few people, especially younger voters, have only a vague idea what socialism actually is and why Americans should reject it.

In an attempt to help correct this gap in the public's understanding I offer this allegory to which everyone should be able to relate:

Imagine that you're in a college class and the class is scheduled to take a test soon. You and your friends study hard. You form a study group. You review the Zoom recordings of the class lectures. You read and reread the textbook assignments. You stay up all night the night before making sure that you've crossed all the t's and dotted all the i's.

Meanwhile, others in the class blow it off. They don't study, they play video games instead and spend their time texting their friends and sleeping.

Test day arrives. When you get your papers back you and your friends have all scored A's and B's and the sluggards have scored D's and F's. It's a familiar story to many students, and here's where the socialism metaphor comes in.

Your professor thinks it's unfair that you and your friends did so much better than your classmates. After all, the professor intones, you went to better high schools, you had the advantage of having better study habits, your upbringing made you more disciplined and instilled in you a strong desire for success.

The students who didn't do so well may have had none of these advantages. It's not fair that your privileged background should cause you to do better than those who are less privileged.

Therefore, the professor concludes, he's going to take points from your scores and give them to the students who got the D's and F's so that everybody winds up with a C. Think of it as an academic wealth tax.

When the next test comes around you and your friends decide that working hard doesn't matter, so you don't put nearly as much effort into your preparation as you did the last time. Meanwhile, your less motivated classmates certainly have no incentive to work harder since they do well enough by just goofing off. The scores come back and they still have D's and F's, but although you and your friends have the highest scores in the class, they're only C's.

When the professor redistributes the points everyone, including you, now has a D.

By the time the third test is administered nobody is motivated to work hard to prepare. The redistribution of "wealth" has sapped you and your friends of all incentive to put forth any serious effort. After all, why work hard when you can't achieve any more than those who don't?

Translate this into economics and you have socialism.

This short video makes the same point differently: