Socialism still remains popular despite its long track record of failure. Poverty and oppression are basic features of socialism. Many believe that in a socialist state, when the right decisions are taken by the right people there could be prosperity for all. But a socialist system often selects leaders willing to exercise coercion to ensure that the interest and plans are executed. The political and economic theory of social organization advocates that the means of production, distribution, and exchange should be owned, planned or regulated by a group of people who produce nothing. Ask your government what new products have been produced for consumers by the elected leaders? The government would be struggling to get you one.
Continue to ask the government what new regulations have been introduced to control means of exchange and production? A list of legislative bills would be showed. In a socialist state, more laws are made than new products. Here, the state owns and controls all properties (oil, gold, cocoa, telecommunication, bauxite,etc) and individuals have little or no rights to contest the means of regulations.
The ideology is about taking from my hard earned income and given to few elites who in return regulate my outputs and income. Simply, you produce nothing, yet take from the profits of what I have produced and use what you have taken to control and regulate my means of income. The system deincentivizes and takes way motivation and economic zeal to produce more. The government is parasitic, feeding on your income to perpetuate violence against the hands that feed him. There’s is a central planning on how much should be taken from your income without your concern. One must oblige to accept the imposition to enhance the monopoly you don't subscribe to. These actions often increase the size of government and reduce the size of the market.
A socialist system espouses power monopoly and subsequently leading to organized economic crime, forced labor, concentration camps, executions, ethnic cleansing, totalitarianism, censorship, starvation, hyperinflation and poverty. Socialism is enforced by the state and the only one to use the law to cause violence in its interest.
To end poverty, government needs to leave the entrance to prosperity, and allow the natural free market to work so it can reward those who invent, innovate and produce. Absolute central planning had failed and countries including Ghana must learn from history. No one hates the government but the State’s actions build individuals who hate the government for taking away their properties and incomes. The market reward more than the government.
Peter Bismark is the Executive Director at ILAPI.
© Rasarp Multimedia Inc and ilapi.org.v1.2.0™ - 2020