Solution to poverty - Socialism or Capitalism?

[clout]

In the twenty first century socialism vs capitalism is a false dichotomy - they are both flawed.

The solution is prosumerism - consumers taking control of the means of production and participating in the process of production via various processes and channels, including revenue sharing, crypto-equities (coins as shares etc), collaborative open source development, 3D printing and other home manufacturing, decentralization in general and ultimately the creation of customer owned DACs.

that is capitalism...

[profitofthegods]

In the twenty first century socialism vs capitalism is a false dichotomy - they are both flawed.

The solution is prosumerism - consumers taking control of the means of production and participating in the process of production via various processes and channels, including revenue sharing, crypto-equities (coins as shares etc), collaborative open source development, 3D printing and other home manufacturing, decentralization in general and ultimately the creation of customer owned DACs.

that is capitalism...

Except that communism is defined as the proletariat taking ownership of the means of production, which is what I'm talking about. So yes, it is capitalism. But yes, it is also socialism.

[CoinsCoinsEverywhere]

Everything in moderation.  It's not good to have a purely capitalistic society, and it's not good to have pure socialism.  Both have advantages and disadvantages.  Capitalism generally leads to innovation and incentive to work hard.  But it's important to have some socialistic policies/programs like Social Security and unemployment insurance.  Putting morals aside, it's not good for society or the economy if people don't have a means to stay afloat if they lose their job, for example.  Risk of default would increase significantly.  Taking it to an extreme where people stay on it for years is not good.  But it can be very helpful to get you through a couple tough months.

[Possum577]

Survival of the Fittest is the law of nature. Capitalism is the economic version of this law of nature. There will always be at least one person who has less than everyone else, which by definition would make him/here "the poor". But Capitalism allows anyone to pull themselves out of that poor state, Socialism doesn't have that mechanism. Socialism doesn't have mobility. The freedom of mobility while poor is more valuable than not having the freedom of mobility and being middle class.

Additionally, business breeds business, capitalism success for one results in capitalism success for others...

[Possum577]

To those who favor Socialism, please help me understand what the incentive is (under Socialism) for one person to produce more or better than their neighbor?

[twiifm]

In the twenty first century socialism vs capitalism is a false dichotomy - they are both flawed.

The solution is prosumerism - consumers taking control of the means of production and participating in the process of production via various processes and channels, including revenue sharing, crypto-equities (coins as shares etc), collaborative open source development, 3D printing and other home manufacturing, decentralization in general and ultimately the creation of customer owned DACs.

You are describing a business structure called a co-op.

Its not an economic ideology like Communism or Capitalism

[giantdragon]

To those who favor Socialism, please help me understand what the incentive is (under Socialism) for one person to produce more or better than their neighbor?

What incentivises people to participate in volunteer projects? To spend money on charity? Create open source software?!!!

[freedomno1]

To those who favor Socialism, please help me understand what the incentive is (under Socialism) for one person to produce more or better than their neighbor?

It's not communism so their is no restrictions to innovation or wage controls 
Just think capitalism with a little red tide on the side why its called the Pink Wave.

[profitofthegods]

In the twenty first century socialism vs capitalism is a false dichotomy - they are both flawed.

The solution is prosumerism - consumers taking control of the means of production and participating in the process of production via various processes and channels, including revenue sharing, crypto-equities (coins as shares etc), collaborative open source development, 3D printing and other home manufacturing, decentralization in general and ultimately the creation of customer owned DACs.

You are describing a business structure called a co-op.

Its not an economic ideology like Communism or Capitalism

No, what I am describing may include co-ops, but 3D printing is not a co-op, open source development does not necessarily take place within a co-op, etc.

[Possum577]

To those who favor Socialism, please help me understand what the incentive is (under Socialism) for one person to produce more or better than their neighbor?

What incentivises people to participate in volunteer projects? To spend money on charity? Create open source software?!!!

This is a great response, didn't think of these. Good points, I concede this one. Thank you!

I still choose Capitalism, but these are great points.

[valvalis]

Socialism / capitalism is not the solution. Poverty will always exist, it's impossible to all of people in the world being wealthy. We only need to care about each other and help each other. The rich can come from anywhere, but not everyone can be rich. There can be no superiors without subordinate

[arbitrage001]

The solution is not capitalism or socialism.

Feudalism managed by a wise king can beat capitalism.

[BtcGains]

IMO it does not matter on the Socialism/Capitalism debate. A wise man once said the Poor will always be among us. Either way Government does not have the answers and I rather not give up my freedoms. Any society that gives people the freedoms and rights to choose their own fate is the way to go.

Agree, there will always be those who throw away their money down the drain, and the less fortunate who never had any money to throw down the drain. Something we can never prevent...but freedom is something we can control. Freedom is my choice

[Erdogan]

The solution is not capitalism or socialism.

Feudalism managed by a wise king can beat capitalism.

A tyrant might work even better. Everyone (except one) could be happy slaves.

[CoinsCoinsEverywhere]

Survival of the Fittest is the law of nature. Capitalism is the economic version of this law of nature. There will always be at least one person who has less than everyone else, which by definition would make him/here "the poor". But Capitalism allows anyone to pull themselves out of that poor state, Socialism doesn't have that mechanism. Socialism doesn't have mobility. The freedom of mobility while poor is more valuable than not having the freedom of mobility and being middle class.

Additionally, business breeds business, capitalism success for one results in capitalism success for others...

I agree that capitalism allows for upward mobility (as well as downward), but it's simply not true that anyone can pull themselves up because not everyone has the opportunity.  A lot of people get stuck in a poverty cycle.  If your parents are uneducated and poor, then it's pretty likely that you won't get much of an education either.  And without a decent education, there are very few opportunities for a better life.  Flipping burgers at McDonald's won't get you out of poverty.

[CoinsCoinsEverywhere]

The solution is not capitalism or socialism.

Feudalism managed by a wise king can beat capitalism.

The problem is that adjective "wise."  Kings, like politicians, rarely, if ever, get into power because they'll be good rulers.  They get there because of their connections to the people who already have power (which would be genetics in the case of kings).

[superresistant]

The solution is not capitalism or socialism.
Feudalism managed by a wise king can beat capitalism.

A tyrant might work even better. Everyone (except one) could be happy slaves.

It is true that most humans alive are descendant of slaves.
We can also say that millenniums of Civilization have selected the most submissive specimens.

Most people put themselves into slavery.

[twiifm]

In the twenty first century socialism vs capitalism is a false dichotomy - they are both flawed.

The solution is prosumerism - consumers taking control of the means of production and participating in the process of production via various processes and channels, including revenue sharing, crypto-equities (coins as shares etc), collaborative open source development, 3D printing and other home manufacturing, decentralization in general and ultimately the creation of customer owned DACs.

You are describing a business structure called a co-op.

Its not an economic ideology like Communism or Capitalism

No, what I am describing may include co-ops, but 3D printing is not a co-op, open source development does not necessarily take place within a co-op, etc.

These things already exist.  Co-ops, 3D printers, open source software, etc..

Theyre not an economic philosophy and poverty continues to exist.

You think drop shipping a bunch of 3D printers to Bangladesh is gonna solve their poverty?  Lol. 

[sandykho47]

Solution to poverty  
If you mean end poverty, that's impossible

even today with great technology, poverty is still everywhere

The great solution to end poverty (for me) is everyone collaborate together

[Nicolas Dorier]

Solution to poverty 
If you mean end poverty, that's impossible

even today with great technology, poverty is still everywhere

The great solution to end poverty (for me) is everyone collaborate together

The is the root of the problem, but socialism does not agree on the definition of "collaboration".
For the socialist, it is altruism.
For the communist, it is forced altruism.
For the capitalist, it is trading.