8 May 2014
Yesterday I was in a conversation with some people who told me I didn't know the meaning of the terms I was using, when what they meant was I understood it too well. I was using the term socialism to describe the underlying philosophy of the current administration and his political party.
Socialism and communism spring from a central thought, “from each according to their ability, to each according to their need”. It sounds good until you start thinking through the ramifications of what it means. Wealth redistribution is its central idea. It is what the phrase means. You take from those who produce to give to those who don't.
It is the philosophy behind the trophies for participation but no trophies singly for those who were outstanding or who actually won the championship. It tells those who want to push for outstanding achievement in whatever they do to not worry about it, it means nothing to be outstanding, achievement gains you nothing.
What an individual earns through their hard work and sacrifice shouldn't be ignored, it should be lauded and put forward as an example of what someone can do when they seize every opportunity, delay gratification, and make the world a better place in the process. Their success becomes a motivation to others; the possibility exists they themselves could achieve something greater than their current station if they work, sacrifice, and delay gratification. It used to be called “The American Dream”.
Our society no longer understands the concept of delayed gratification. We want instant gratification. It is borne out in our low savings rate as a country, as that is what a savings account is representative of. A savings account is there to save for a rainy day, in the process, the bank uses those funds to make loans to local people to start businesses, buy equipment, home improvements, expand businesses, or any number of useful things to a local economy. The bank in turn charges the people interest and passes part of the interest to you which increases your savings account. You money will grow over time but it isn't a short amount of time.
True capitalism is built on the concept of delayed gratification. You work, save, invest, and sacrifice to build familial wealth over time; and it may take generations. When you do it this it builds yourself and those around you. It is the concept of “a rising tide lifts all boats”. This concept also doesn't take from someone to give to someone else. You give and receive. You invest and get to see the investment help someone else fulfill their dreams all while earning a return on the investment you made.
