[user104658]

This is far too overly-simplistic.

I believe that the only currently viable system is managed capitalism (not rampant free-market) backed up by relatively generous socialist policies where appropriate. For example, I believe that Universal Income (a heavily socialist policy) makes far more sense, and would work far better, than the current "topped up wage credit" structure... but part of that is a belief that it would actually be very GOOD for markets and the capitalist economy whilst also providing a permanent safety net that would ensure a decent level of worker's rights.

Essentially I feel that abandonning capitalism (in the world as it stands) is a race to the bottom, and who really wants equality if that essentially means being "equally miserable". However I am a socialist in the sense that I believe that we should be redistributing wealth on a massive scale and work undertaken in a developed economy should be out of desire rather than necessity. I think the fear is that no one would bother working in menial jobs, but I personally think the desire for extra income would provide a more-than-adequate pool of labour, and it would be both a more enthusiastic (and thus effective) workforce AND ensure that employers are motivated to keep working conditions attractive.

[Oliver_W]

Originally Posted by Toy Soldier

For example, I believe that Universal Income (a heavily socialist policy) makes far more sense, and would work far better, than the current "topped up wage credit" structure... but part of that is a belief that it would actually be very GOOD for markets and the capitalist economy whilst also providing a permanent safety net that would ensure a decent level of worker's rights.

I heard somewhere that giving every working age person the equivalent of working full time on minimum wage would be cheaper for the tax payer than running the "welfare state" as it is i.e. a certain amount for job seekers, disabled, topping up wages, and whatever else along with paying DWP staff.