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Bill Gates says socialism has “worked extremely poorly”

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  • Socialism in the context of the current political discourse is just another term for wealth redistribution. We all want basic needs for all people of course. What needs to be acknowledged and better appreciated is that uneven outcomes are a statistical truth that are inescapable. The Pareto principle

    Socialism in the context of the current political discourse is just another term for wealth redistribution. We all want basic needs for all people of course. What needs to be acknowledged and better appreciated is that uneven outcomes are a statistical truth that are inescapable. The Pareto principle - aka the 80/20 rule - addresses that uneven outcomes are a fact of life. More importantly, uneven outcomes are not a bad thing, because they:

    A) propagate progress via innovation cycles

    B) allow consumers to realize efficiencies and better experiences through scale benefits achieved by companies

    C) create the incentive framework for unseating unsavory players

    Basic services should be a human right. But conflating socialism with taking care of a nation’s citizens ignores statistical reality.

  • Germany and Japan are rich. They are also democratic, capitalistic and fairly “socialist.”

    The term “socialism” gets thrown around a lot without broad agreement on what it actually means.

    Some forms of socialism can be very bad. Other forms, within a democratic and capitalist society, probably warrant more discussion.

  • Bill Gates weighs in on the current US discussion around socialism and taxation. He's anti-socialism, though in favor of large estate taxes to redistribute wealth. I've never heard him talk about his view of the ideal economic system before—it's worth hearing him discuss.

  • Social democracy is not socialism, they're entirely distinct, even if American proponents of the former often want to appear edgy by claiming to be the latter.

    https://stevefoerster.com/social-democracy-isnt-socialism/

  • Gates and Buffet both extol the virtues of the estate tax, but both have also arranged their wealth to be distributed through charitable foundations. Seems like they think they know better than the government. They are correct.

  • There are some things that can stand to be “socialized.” Medical care and education immediately come to mind. Both of these things are suffering when and where they are being privatized (capitalized?)

    My brother-in-law is a teacher in FL. From where I’m sitting he’s had too many charter schools close

    There are some things that can stand to be “socialized.” Medical care and education immediately come to mind. Both of these things are suffering when and where they are being privatized (capitalized?)

    My brother-in-law is a teacher in FL. From where I’m sitting he’s had too many charter schools close underneath him. FL has gone all-in for charter schools, and too many are failing, leaving kids & parents in the lurch. Educating our children should not be a for profit venture.

    Medical care as it stands now has been designed to benefit the insurance industry. Insurance companies override doctors now, nix prescriptions or procedures as they like. Since when should an insurance administrator or even a doctor who works for the company who has never seen me be able to override my doctor when she writes a prsecription?

  • Ironically, most of big companies in a capitalist economy adopt socialism in their organization. “The government” decides how wealth is distributed among the people. Even Microsoft was a socialist company.

  • Here's a cheat sheet. Socialism can work well for small countries. But it's exactly like a leech. It needs a strong capitalist economy to suck on. Once that economy is ruined, though, Socialism quickly dies or must adapt to full scale Communism to survive. That's when people start to die.

  • I don’t think Bill Gates fully understands modern socialism or Democratic Socialism, which functions best in a capitalist society.

  • There are a few problems being discussed on this pick. What is being missed from socialism is who should oversee the implementation, and monitoring of a socialist society, democratic or republican.

    When a government implements it, it fails 100% of the time, and typically destroys a nation.

    The point

    There are a few problems being discussed on this pick. What is being missed from socialism is who should oversee the implementation, and monitoring of a socialist society, democratic or republican.

    When a government implements it, it fails 100% of the time, and typically destroys a nation.

    The point is, a government is terrible at everything they do when they govern themselves. In this country the layers that have been and continue to be added are the exact problem.

    It’s time to rethink the government and bring it back to the people.

  • Socialism and Democratic Socialism are the same thing with one minor difference in that the latter gives the illusion that the people are calling the shots.

    It doesn't work because power corrupts, always, everywhere and socialism of any variety grants too much to too few whether by decree or consensus.

  • From what I can see right now, capitalism is not working so great as well except for people like Bill Gates.

    May be he meant to say socialism will work extremely poorly for him.

    Socialism can exist with capitalism. He is confusing socialism with communism.

  • Yes socialism has a poor track record but nobody is talking about socialism in the United States, what people are talking about is something like the UK or Sweden or Denmark are they socialist countries? No their kinder,gentler forms of capitalism and this might shock a lot of people but the US was on

    Yes socialism has a poor track record but nobody is talking about socialism in the United States, what people are talking about is something like the UK or Sweden or Denmark are they socialist countries? No their kinder,gentler forms of capitalism and this might shock a lot of people but the US was on the path to just that sort of nation for 25 to thirty years following WWII, Bill Gates is all in a huff about marginal taxes reaching 70% so what they were 90% under Eisenhower, the economy didn’t sink like a stone far from it 4,5,6% annual GDP was the norm. our present trajectory is unsustainable, it’s not income inequality or a host of other maladies that are sinking us it’s that their is no longer a way up for enough people, everything is being choked off for far to many people, when I was in my 20s you could come up with an idea to create or satisfy a need and with an investment that was well within the means of most people you’d be on your way to a fortune, now you need to get recognized by a venture firm to get off the ground.

  • mh.zabihi@yahoo.com

  • It saddens me to see socialism branded in the United States negatively, using statistics and other learned theories. It saddens precisely because, as those theories reckon, not all people are gifted with the same level of intelligence, the same levels of abilities, or the same capabilities. Yet we’re

    It saddens me to see socialism branded in the United States negatively, using statistics and other learned theories. It saddens precisely because, as those theories reckon, not all people are gifted with the same level of intelligence, the same levels of abilities, or the same capabilities. Yet we’re all human, all equal in rights. Socialism, it seems to me, is a way by which a society of equals agree for the strong to help the not so strong. Just like a soldier fights for those who cannot fight for themselves. Who amongst us would want to live in a world where you’re not your brother’s keeper?