Perry alludes to the idea that if socialism were such a great form of government, then Haitian refugees would not risk traveling to the United states, where capitalism is in effect, but to the “workers paradise,”as he calls it, of the socialist country Cuba. Perry concludes that Socialism was a failure because incentives are ignored. Examples of incentives include market prices, the profit and loss system, and private property rights, to which he says that capitalism is most successful because it puts these three first. Having prices that react to supply and demand greatly help the economy in a capitalist government. When the amount of the product decreases, the price increases, which keeps the market stable with around the same amount of income as it would be if the demand wasn't as high. A socialist market keeps a set price for all products, hiding the demand of the object, and losing profit. Lack of private property is another flaw under socialism. Due to the socialist belief “ everything is equal,” there are no private properties, allowing everything to be used up by the public, with no one to assume responsibility to maintain the
Perry alludes to the idea that if socialism were such a great form of government, then Haitian refugees would not risk traveling to the United states, where capitalism is in effect, but to the “workers paradise,”as he calls it, of the socialist country Cuba. Perry concludes that Socialism was a failure because incentives are ignored. Examples of incentives include market prices, the profit and loss system, and private property rights, to which he says that capitalism is most successful because it puts these three first. Having prices that react to supply and demand greatly help the economy in a capitalist government. When the amount of the product decreases, the price increases, which keeps the market stable with around the same amount of income as it would be if the demand wasn't as high. A socialist market keeps a set price for all products, hiding the demand of the object, and losing profit. Lack of private property is another flaw under socialism. Due to the socialist belief “ everything is equal,” there are no private properties, allowing everything to be used up by the public, with no one to assume responsibility to maintain the