Wrong. Politics and brainwashing got to you dude.

I. Definition

Socialism is an economic philosophy based on the need for regulations on capitalism. Unchecked capitalism, most economists agree, can create serious problems in the long term, since short-term personal profit does not motivate companies to take care of infrastructure, the environment, or their workers. Socialists emphasize this fact and argue that only the government can solve the problems created by capitalism. Other economic philosophies generally acknowledge the problem, but advocate other solutions to it, while only a few extremists deny that there is any problem with absolute capitalism.

Although many people think that socialism and capitalism are completely incompatible systems, the fact is that most developed nations operate on a combination of both. For example, nearly every major city in the developed world has some system of government-run public transportation, such as bus lines or a subway. There are also laws against child labor, unsafe workplaces, and reckless pollution, and government programs that help provide education, food, and healthcare to the poor. All of these are socialist ideas that exist in relative harmony with capitalist economies. Capitalism vs. socialism is a question of balance, not an “either/or” question.

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