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Originally Posted by mirevolver
Money has a different effect on different people. The problem with socialism is that it forces everybody into a one size fits all solution by taking the money away from those who have earned it and giving it to those who have not. Those who have earned the money are typically the ones who are driven by it and when they see the money taken from them, they lose the desire to work becuase they see no reward in it. Those who did not earn the money see money being handed to them and then see no desire to work because they are given all that they need without having to do anything for it. Then you end up with a society where everybody only does the minimum to get by and innovation dies. Welcome to Russia tovarisch (comrade).
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Again, big assumptions here. First of all, socialism is not taking money from people who earned it and giving it to those who have not. It's the taking of some money from everyone just to make sure that no one is in poverty. If you make $1m a year now, you're not going to be making $60k a year in a socialist system. You're going to be making $800k. Hardly something to sneeze at. You still keep what you ear, you just earn a little less if you make a shitton of money. Not only that, but everyone works. No one sits at home getting money. That's not socialism. 100% employment means everyone earns their way.
Innovation has a better chance in a socialist system because you don't have to compete for money. You can develop innovative technologies without having to worry about living up to a cooperation's expectation. If you're working on a way to get 200 mpg, the oil industry can't bury you. That's real innovation, clear of the influence of selfish corporations.