Image Source: https://www.globaltimes.cn/Portals/0/attachment/2020/2020-06-03/43c51675-9995-4ef7-80c2-7d5792934b5e.
Why Socialism Sucks:
One thing the speaker pointed out about living in a socialist country that I found interesting was how socialism destroys peoples incentives to sell. Since there is no private business or property, the workers who run the shops and stores put no effort into their business since there is no point in selling more. Along with destroying the incentive to sell and create new economic opportunity, it destroys the quality and variety of the items sold to the people. Since there is no competition there is no point in the government putting a lot of effort into the quality of these products since they will make their money either way. The combination ruins quality of life and removes the facet for people to get out of less fortunate situations. I find that this is one of the beauties of capitalism. It provides a perfect environment for people the be entrepreneurial and try to create something better for the public. Capitalism allows people to be rewarded for their handwork, as well as rewarding the households with access to these luxuries.
Evidence:
The situations that North Korea and South Korea find themselves in provides a perfect example of the differences between capitalism and socialism (with a dictator). The photos shown in the presentation show how South Korea is lit up at night with large cities bustling with people, while North Korea is dark at night. Along with the obvious terrible living conditions that are felt in North Korea, there just seems to be no upside to embracing a socialist system. Venezuela was another example of low living wages and conditions, along with other central american countries such as Cuba. The citizens of these countries are forced to drastic measures in order to try and earn some money and better their own situation. Systems such as these are seen all over the globe and no example seems to have lived up to the promises that socialism provides. Although no capitalistic system is perfect, and there is no true utopia, socialism has shown that it is the inferior system in governing citizens.