Blogging Around: Socialism vs. Capitalism at Booker Rising

Akindele Akinyemi.jpg

Detroit Blogger Akindele Akinyemi puts forward this idea…

"We should reject socialism because it is a form of psychological slavery that keep us dependent on a larger system to take care of us."

Answers Roderick in the Comments at Booker Rising

"And pure capitalism is physical and financial enslavement. Neither pure capitalism nor pure socialism is the answer. I like the balance that America has achieved."

Open for Discussion in The Comments Section of Barbados Free Press…


Filed under Barbados, Culture & Race Issues, Island Life, Politics & Corruption

11 responses to “Blogging Around: Socialism vs. Capitalism at Booker Rising

  1. I agree with Akindele basic premise. Unbridle capitalism which can be found in some sections of the American economy and at various times in it’s history has significant consquences for those in the same economic bracket that suffers the most from socialism. I tend to think that as a country Australia does a better job of maintaining a positive balance between the two.

  2. BFP

    Very true Adrian

    Unbridled capitalism doesn’t care about the widow or the child (except as a means of future production or consumption)… and unbridled sucks the energy and ambition from the people and the country.

    Like everything else in life, balance is healthy. Too much of even good things is bad.

  3. BFP

    should have said “and unbridled SOCIALISM sucks the energy and ambition from the people and the country.”

    hmmmm…. time to stop drinking Banks before sundown.

  4. Comment Maker

    I think that both of the statements are true. Pure capitalism and pure socialism are theoretical constructs that do not work in the very messy real world.

    I do think that pragmatic application of both of these schools of thought is not mutually exclusive. The state exists for the protection of it’s citizens and you can effectively judge the success of the state by how well it protects those citizens who are the weakest.

    At the same time the state needs to allow those who are willing to do more and to invest to do so and to make rewards for having taken the risks inherent in investment.

    I don’t want Barbados to become one big golf course, however I do recognise that golf courses/marinas/condos have a valuable role to play in our development.

    At the same time I don’t think that social services such as free education and health care are “unnecessary expenditure” as they seem to be classifed by the IMF et al. They are investments in our future development.

    I will always cuss about the waste of tax money, but I would never say that we shouldn’t pay taxes of some form.

  5. Do you agree that socialism is heavily practice in Babados? and would you say that that your definition of unbridle socialism is evident among Barbadians?

  6. “question since you like to brag about your readership and no. of hits Why does the BLP blog have “Stat” count and yours does not? would it not back up your claim to unpresidented readership and hits by displaying the “Stat” count?”

    Good question.

  7. BFP

    Hello Folks

    Much as most newspapers do not publish their daily circulation number – or just make such information available to paying advertisers – we also decided early in the game that we would not post daily stats as we wanted to see and experiment with how our daily articles, styles, stories and links perform: in terms of daily unique visitors, links, referrals and search engine hits and performance.

    A good part of our Google success is based upon techniques that we have developed and refined and have no desire to share with the public. So… although we will publish occasional “milestone” figures, we will not be publishing daily hits or source data.

    For those who are curious about just how well we are doing, I suggest a Google, MSN or Yahoo search of any topic or person relating to Barbados. But it is all about satisfying your curiousity because we will not be selling advertising or converting to a revenue-based model in the near future.


  8. neil

    to adrian’s point above about the socialist makeup of barbados. In as much as both main political parties are mass-labour parties, the socialist description would seem to make sense. Also, I’m no economist nor do I have any economic data to hand, but I would bet that government spending accounts for the vast majority of economic activity.

    Maybe Barbados could do with a bit of Third Way politics.

  9. Comment Maker said: The state exists for the protection of it’s citizens and you can effectively judge the success of the state by how well it protects those citizens who are the weakest.

    Comment Maker: is this the only reason for the state’s existance? or is it the top reason among others and what are they?

  10. Editor

    The difference between socialism and capitalism? Under socialism, banks are first nationalized and then go bankrupt. In the capitalist system it appears to work the other way around.


  11. Or is it ‘dogmatism’ that enslaves?