Make up post- A critique on socialism

Socialism seems to be a very effective way which gives every person an opportunity to participate according to the ability and get according to the need. Some critics of socialism, debate that income distribution reduces individual incentives to work; incomes should be personalized as much as possible. Socialism impedes the way of competition which is quite necessary for a healthy society and that it hinders technological progress due to stifled competition. The philosopher Friedrich Hayek argued that the road to socialism leads society to totalitarianism.

Some people are of the view that socialism cannot work unless it is applied globally, for example, Cuba which is a socialist state, faces trouble due to lack of cooperation with its neighboring countries. A counter critique to this perception can be that if whole world becomes socialist then what will be the importance of geographical boundaries. If an area is rich in some natural resource then is it advisable to transport that advantage to other people without considering the long term benefits of the people belonging to that area whose jobs and living standards are based on that source?

Socialism seems to focus mostly in class differences, its consequences and remedies, but modern world has many other issues too, such as feminism and environmentalism. Socialism does not address such issues separately as in its perspective all other evils of the world derive their way from capitalism. This thinking provides a narrower look on many other important issues which need quick fixation. To wait for the world to become socialist is a long phenomenon; we should not ignore the current problems in the veil of capitalism.