undefined | Better HN

0 pointsvirtualritz3y ago0 comments

Why is this being downvoted?

This hits the nail on the head and is equally true for Germany btw.

I grew up in social market capitalism in the latter country in the 70s & 80s. TLDR; it works.

0 comments

To paraphrase Margaret Thatcher “Socialism works great until you run out of other people’s money”.

And the ironic part is when the people asking to maintain social programs complain too much attention is paid to economic growth - the very source of what pays for those programs.

The truth is as economies stagnate and the demographic shift happens, Western Europe will have no choice but to cut back programs.

You cant maintain the same system when you go from 1 worker and we retired to 1 worker and 2 retired.

virtualritzOP3y ago

What exactly is your point?

Socialist capitalism[1] is mainly about making sure the wealth and opportunity gap between members of a society doesn't become a 'canyon'.

We're talking mainly legislation here.

What you're seemingly talking about is how a government is managing pensions when faced with an aging population?

Quoting Thatcher in this context is hilarious to someone like me who lived & worked in the UK.

There is a reason continental Europeans jokingly often call the that island the 'last 3rd world country in Europe'. ;)

[1] https://en.wikipedia.org/wiki/Social_market_economy

Edit: missing link

refurb3y ago

It’s amazing how many fans of socialism, such as yourself, don’t see the connection.

The UK would be even less able to afford social programs if the economy had continued on its pre-Thatcher slide down.

And calling the UK third world just shows how laughable the understanding is - try “socialist paradises” like Greece where much of the economy has gone underground because the tax burden is so high in people who can barely make ends meet.

1 more reply

j / k navigate · click thread line to collapse

0 comments

refurb3y ago

To paraphrase Margaret Thatcher “Socialism works great until you run out of other people’s money”.

And the ironic part is when the people asking to maintain social programs complain too much attention is paid to economic growth - the very source of what pays for those programs.

The truth is as economies stagnate and the demographic shift happens, Western Europe will have no choice but to cut back programs.

You cant maintain the same system when you go from 1 worker and we retired to 1 worker and 2 retired.

virtualritzOP3y ago

What exactly is your point?

Socialist capitalism[1] is mainly about making sure the wealth and opportunity gap between members of a society doesn't become a 'canyon'.

We're talking mainly legislation here.

What you're seemingly talking about is how a government is managing pensions when faced with an aging population?

Quoting Thatcher in this context is hilarious to someone like me who lived & worked in the UK.

There is a reason continental Europeans jokingly often call the that island the 'last 3rd world country in Europe'. ;)

[1] https://en.wikipedia.org/wiki/Social_market_economy

Edit: missing link

refurb3y ago

It’s amazing how many fans of socialism, such as yourself, don’t see the connection.

The UK would be even less able to afford social programs if the economy had continued on its pre-Thatcher slide down.

1 more reply

j / k navigate · click thread line to collapse