**based on ideals of each concept
best of capitalism: competition --> innovation, innovation --> important new products, rewards hard work, allows for mobility, choices, less likely to lead to all powerful state b/c gov doesn't own businesses, more economic growth
best of socialism/communism: promotes social justice, racial/cultural divides lessen b/c of equal economic standing, needs of all people met, less materialism and less self centered attitudes, better for the environment, less waste
worst of capitalism: exploitation of lower/middle classes, needs of all people not met, fuels materialism and self centered behavior
worst of socialism/communism: no competition or reward for innovation and hard work --> less motivation --> less important progress for humanity, counter intuitive to human nature
While I personally support the government having a larger role than it currently has, I believe that giving the government control of all businesses would be a negative thing. Government ownership of all businesses would inhibit creativity and make the product market unnecessarily bureaucratic. I think socialism of a certain type is best for humanity today, particularity in the United States. An incredibly high tax rate that allows those who work hard (and inevitably, some of those who have inherit wealth) to have just enough more that they still have motivation to work and innovate would be awesome. I mean, it's totally ridiculous that anyone makes more than, say, 400-500,000 dollars a year, regardless of how hard they work. Think about how much higher the standard of living for so many currently impoverished people would be if income was capped or taxed to the point where no one made more than 500k!