Why Democratic Socialism is Preferable to Capitalism

    In recent years, we have seen major changes to the political discourse in this country. A big reason for this shift in America is the reconsideration of capitalism in our country. For centuries, America and its citizens have prided themselves on its capitalistic structure, and why free enterprise and smaller government is the key to success and aggrandizement. This belief in Capitalism and free enterprise has been a tenet of our society's fabric for decades; however, favorability for capitalism is currently trending downwards. Not only that, but many Americans aren’t just losing faith in capitalism, but embracing a movement towards socialism, which has been disregarded and demonized in this country for centuries. According to recent Gallup “since 2010, young adults' overall opinion of capitalism has deteriorated to the point that capitalism and socialism are tied in popularity among every age group” (Gallup). The biggest reason for this is as America’s capitalistic structure has become increasingly laissez faire, life for average Americans has continually deteriorated. 

    Today, major political figures such Bernie Sanders, Alexandria Ocacio Cortez, Illhan Omar,

Rasheda Talib, all of which are self described democratic socialists, rank as some of the most popular

and favorable politicians in the country, and a huge reason for that is their critique of our current

capitalistic structure, and why we must revolutionize our current system. Innovative ideas such as

socialized medicine, higher taxes on the wealthy, public funding of major institutions, increasing minimum

wage are all gaining traction and making their way into the mainstream. A huge reason is because their

policy proposals are not actually new ideals, rather they are the foundation of much of the developed world.

These beloved leaders want our current society to reflect that of social democratic nations such as

Canada, Denmark, Sweden, Germany and many other developed western countries, and they’re right for

thinking so. 

    Democratic Socialism is an ideology that combines free enterprise with government control of ownership, which has proved superior to our reliance on the private market. In these nations, basic institutions such as education and healthcare are provided by the government and paid through taxes, while both these institutions are privatized in America. According to US news, while the countries listed above rank in the top 5 in healthcare, we rank 15th. This is because everyone in these respective countries, everyone pays for the same quality affordable care, while ours is privatized and for profit, which has left 28 million Americans without insurance because of the expense. Like healthcare, education has also proven to be superior in nations such as the ones listed. According to the top 20 project, in the most recent fiscal quarter, the nations listed above rank top 10 in education, while the US didn’t make the top 20

https://www.healthsystemtracker.org/chart-collection/quality-u-s-healthcare-system-compare-countries/

    The most telling signs of our systems ineptitude are the rising rates of economic inequality and financial distress, coupled with the continual decline in overall happiness.

https://www.vox.com/2018/7/29/17627134/income-inequality-chart

    The UN also publishes yearly reports on global happiness, and according to their most recent report, while several western European countries and Canada rank in the top 10, the US comes in at 19. NBC news has also reported that “Folks in the U.S. are more unhappy today than they've been in nearly 50 years” (NBC News). It makes perfect sense why increasing wealth inequality and social/economic injustice, both synonymous with capitalism, has led to continued dissatisfaction and unrest amongst Americans.

https://www.timesofisrael.com/israelis-still-very-happy-but-slip-two-posts-in-world-ranking/

All in all, the biggest reason why many countries are adopting a post-capitalist philosophy is because capitalism breeds many losers and few winners. While America is regarded as the land of opportunity, it is clear that our economic and social structure has perpetuated inequality and frustration, mainly because basic rights such as education, healthcare and a livable wage come at a premium in this country. We can look to the rest of the developed world, and see their democratic socialist platform has fostered happier nations, since their basic needs are provided by their respective governments. Democratic Socialism empowers the individual, and truly embraces the best aspects of democracy. If we want to see major change to the living standards of average Americans, it is time we scrap our originalist system, and catch up to the rest of the developed world. 

Sources

https://news.gallup.com/opinion/polling-matters/287459/public-opinion-review-americans-word-socialism.aspx

https://www.census.gov/library/publications/2019/demo/p60-267.html#:~:text=In%202018%2C%208.5%20percent%20of,7.9%20percent%20or%2025.6%20million).

https://www.usnews.com/news/best-countries/slideshows/countries-with-the-most-well-developed-public-health-care-system?slide=7

https://www.cnbc.com/2020/06/04/more-than-half-of-students-probably-cant-afford-college-due-to-covid-19.html

https://www.vox.com/2018/7/29/17627134/income-inequality-chart