Thor Halvorssen on Socialism

by WilliamV .

The 2016 Presidential Election has brought up several issues with which the public has never really been confronted. Since people have generally never heard of these issues, it can be easy to glamorize them. It is easy to tell people what is great about socialism because the citizens of the United States do not know the demerits or the history of socialism. In this video, Thor Halvorssen pointed that out. He suggested that socialism is being misrepresented, as only the strengths are emphasized and people are not being given a full and fair treatment of the pertinent issues related to socialism.

 

He Acknowledged That Sometimes It Works

As discussed in this Reddit thread, it is easily to point to a prosperous nation who has socialist policies. Many of us will look to places such as Denmark as a land of peace and prosperity and has a properly functioning socialist government. Yet, argues Halvorssen, there are several counter-examples wherein socialism has been been abused. We would not hastily say that socialism cannot work. But it very often does not work. He does not support socialism because of its’ history. There is too much depth. It is not sufficient to say that it is a countermove against the greed of the wealthy. It is far more than that.

 

Redistribution of Wealth Does Not Work

The socialist model (as we have heard throughout the presidential election) is to tax the rich and distribute that money among the poor in the form of an increased minimum wage and other feature that the people find compelling. The problem that Halvorssen pointed out is that this necessarily limits the national economy. As a result, we only have a finite amount of money. On capitalism, there is a constant influx. So while the rich will continue to become richer, the poor will as well. That is why the poor in the US are better off than the poor in third world countries.

 

While one may be compelled by the idea of taking somebody else’s money, it is something like putting a bandaid over the wound from a gunshot. It is an oversimplification of a complex problem.

More information for Thor Halvorssen: https://www.linkedin.com/in/halvorssen

https://www.crunchbase.com/person/thor-halvorssen