The primary focus of his most recent work has been decentralized manufacturing and the casual and family economies. Historically, the countries which have achieved the greatest amount of economic success over the years and centuries have been people who have embraced capitalism (the United States, Japan, South Korea, Australia, to name just some). There is a smattering of socialism combined into these countries’ financial methods (Social Security, Medicare).
Marxists argue that the establishment of a socialist mode of manufacturing is the one approach to overcome these deficiencies. Excessive disparities in income distribution result in social instability and require costly corrective measures within the form of redistributive taxation. This incurs heavy administrative prices whereas weakening the motivation to work, inviting dishonesty and increasing the chance of tax evasion (the corrective measures) while lowering the general effectivity of the market financial system.
Some Marxists imagine socialism would eventually in turn evolve into … Read More