Where Socialism and Communism got it wrong:
Assumption: Man’s nature can be molded to serve the state altruistically
Truth: Man’s nature is fixed; self comes first and work for the state fulfills self-interest, but only after his/her basic needs are met.
Assumption: People are only members of a supposedly uniform group
Truth: People are individuals and each has value; groups are not uniform
Assumption: Competition is bad and unfair
Truth: Competition is good; it produces more and better products and services at lower prices for all through incentives
Assumption: Winning is unfair to losers and all others
Truth: Winning is good for all; it encourages people to strive to do better and gives everyone a goal to strive for.
Assumption: Equal outcomes are more fair
Truth: Equal outcomes are unfair to achievers, but equal opportunity is good; outcomes will vary based on ability and effort; equal opportunity encourages people to try harder and to do better. Equal outcome penalizes people with more skills, talent and that work harder. It is a “race to mediocrity.”
Assumption: The economy is a zero-sum game; the pie is a fixed size; if some get more it is because others are deprived.
Truth: The economy is a dynamic, growing system; the pie can expand with new opportunities, goods, services; success of one does not detract from future successes of others. A rising tide raises all boats.
Assumption: “The Rich” are evil and unfair; they are hoarding so others must do without
Truth: “The Rich,” aka successful people, invest, employ, build, improve and give charitably to humane and environmentally friendly causes.
Assumption: Big Corporations are bad; they’re only after the money and don’t care about the environment or the people.
Truth: See Truth: “The Rich” above; as models they incentivize others to compete for market share through innovation and extra effort. They also must live in the world they create so that care for society and the environment are naturally important to them.
Assumption: Big Corporations exploit workers
Truth: Corporations provide employees with income and benefits they otherwise wouldn’t have. It is in their best interest to pay people a wage that allows them to buy the goods produced or sold. To keep the best employees, wages are kept competitive.
Assumption: Big Corporations are greedy and keep profits for themselves.
Truth: Corporations provide wages and valuable goods and services, but wouldn’t stay in business if they got nothing from it. Corporations must have reserves to survive in bad times, meet payrolls, grow the business, provide secure retirement for employees, support advertising, research and innovation, invest or buy smaller businesses to expand product lines and grow market share.