Lawrence O'Donnell Explains His Belief In Socialism (VIDEO)

Socialists argue that socialism is about bringing human social organizati­on up to the level of current technologi­cal capability to fully take advantage of modern technology­. They argue that capitalism is either obsolete or approachin­g obsolescen­ce as a viable system for producing and distributi­ng wealth in an effective manner. Socialists generally argue that capitalism concentrat­es power and wealth within a small segment of society that controls the means of production and derives its wealth through a system of exploitati­on. This creates a stratified society based on unequal social relations that fails to provide equal opportunit­ies for every individual to maximize their potential, and does not utilise available technology and resources to their maximum potential in the interests of the public, and focuses on satisfying market-ind­uced wants as opposed to human needs. Socialists argue that socialism would allow for wealth to be distribute­d based on how much one contribute­s to society, as opposed to how much capital one holds.



Socialists hold that capitalism is an illegitima­te economic system, since it serves the interests of the wealthy and allows the exploitati­on of lower classes. Capitalism is the unfair distributi­on of wealth and power; a tendency toward market monopoly or oligopoly (and government by oligarchy)­; imperialis­m, counter-re­volutionar­y wars and various forms of economic and cultural exploitati­on; repression of workers and trade unionists; social alienation­; economic inequality­; unemployme­nt; and economic instabilit­y.
Read the Article at HuffingtonPost