-
America's Founding Fathers on Socialism and Capitalism
Founding FathersThe strong centralized government and controlling ideals of a socialist nation strikingingly contrasted those ideals of the Founding Fathers, who sought a sort of capitalist nation with limited government. Thomas Jefferson, author of the Declaration of Independence described "the sum of a good government," as "a wise and frugal government, which shall restrain men from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement." -
The US Constitution Favoring Socialism
Marxist Interpretation of the Constitution Socialism advocates for a society in which the wealth and power reside in the people, not a specific group. Indeed, the framers of the Constitution had in mind articles that would ultimately give power, liberty, and justice to the people of their nation. The Constitution initiated regulations that would provide people with basic rights and standards of living, which is a main goal of the Socialist philosophy; these regulations would serve toward the betterment of the nation as a whole. -
Karl Marx on Socialism and Capitalism in "The Communist Manifesto"
Socialism and Capitalism In Marxist theory, socialism refers to a specific historical phase of economic development and its corresponding set of social relations that eventually supersede capitalism. The social relations of socialism are characterized by the working-class effectively controlling the means of production through cooperative enterprises or public ownership and self management, so that income would accrue to the working class and society as a whole instead of specific corporate leaders. -
Chao v. Mallard Bay Drilling, Inc.
Chao v. MallardIn 1997, an explosion on board Mallard Bay Drilling Rig 52, a oil and gas exploration barge, killed and injured several workers. The Occupational Health and Safety Administration charged Mallard for violating the Health and Safety Act in a workplace (1970). The court decided that the OHSA had jurisdiction to under the Act to issue a citation. This exemplifies Capitalist society, where the workers have meager working conditions since they are seen merely as a means of production. -
Obama As a Socialist
Socialist Obama The socialist parties of Europe trace their origins to reform Marxism. Marxists, such as Karl Leibknecht, August Bebel, Paul Lafargue, Leon Blum, formed the socialist parties that we know today. Most emerged from the trade-union movement, and they retain close ties with organized labor today, as does Obama’s Democrat Party. Europe's modern socialist agenda strongly reiterates the propositions made by President Obama for the welfare state. -
Crony Capitalism
Crony Capitalism Senator Stacey Campfield cast the only vote against Governor Bill Haslam's proposal to begin giving corporations cash grants for expanding or locating in Tennessee after declaring they could be a step toward "crony capitalism." The bill was approved by the Senate 29-1 and now goes to the governor for his signature. It was approved 96-0 in the House.
