DiscussWorldIssues - Socio-Economic Religion and Political Uncensored Debate - View Single Post - welcome to the new socialist kingdom of Britain

**Krruqgwt** · 10-13-2008, 09:07 PM

Originally posted by Comrade Snuggles
Socialism is not when the state bails out the wealthy. That's state capitalism. Socialism is when the workers take all the property of the wealthy . . . without compensation! Now, now, Comrade Snuggles. "State Capital" is usually shorthand for National Socialism, like the first part of your description.

The latter event in your description is generally labelled "Communism." Socialism involves having the state own big swaths of industry without the capitalists or the workers' associations having much say in running the resulting companies, which are treated as though they have to make a profit, compete in price and maintain trained workforces. Generally, they do not make money; they do set prices; and they employ way more people than any private firm could afford or would need.

10-13-2008, 09:07 PM	#5
Krruqgwt Join Date Oct 2005 Posts 550 Senior Member	Originally posted by Comrade Snuggles Socialism is not when the state bails out the wealthy. That's state capitalism. Socialism is when the workers take all the property of the wealthy . . . without compensation! Now, now, Comrade Snuggles. "State Capital" is usually shorthand for National Socialism, like the first part of your description. The latter event in your description is generally labelled "Communism." Socialism involves having the state own big swaths of industry without the capitalists or the workers' associations having much say in running the resulting companies, which are treated as though they have to make a profit, compete in price and maintain trained workforces. Generally, they do not make money; they do set prices; and they employ way more people than any private firm could afford or would need.
	Quote