"The problem with socialism is that you eventually run out of other people's money."

I’m bored, so I’m going to deconstruct this quote that is often attributed to Margaret Thatcher and show why it is not coherent. This is not endorsement of that which it is used to argue against, but a warning against using sloppy thinking.

The set of possible and existing social systems that are called “socialism” are characterized by a particular kind of distribution of resources/wealth. The “other people” referred to by the quote are the people to whom wealth is alternatively distributed to under non-socialism. But, under socialism, “other people’s money” does not in fact belong to “other people”. Instead, it belongs to whomever socialist political theory assigns it to. This is why the quote attributed to Thatcher is incoherent.

How can a sovereign run out of money?

That’s an interesting question, but it is ultimately a detour from the main takeaway.

So where does all of this magical money come from in Socialism? lol.

I know! Let’s look and see how California is doing with there Socialist Utopia?
They don’t need help from the American government right?

Wait, they keep draining more and more of America’s money.

By the way, I told ya’ll on here that Democrat Politicians colluded with Russia.
Now Conservatives, the Conservative Media, and Trumps team are going to expose the truth about it more and more, over time.


You didn’t address my argument at all.

California isn’t socialist.

Do you just purposefully make things up? California has had a balanced budget or budget surplus for the past 6 years. California has a per capital balance on payments of $348 which makes it one of the least federally dependent states.

Is this all new information to you?

1 Like

My suggestion is to stop listening to CEC talking points and do your homework. This “socialism” talking point is stupid and will be short lived.

1 Like

Were does magical money come from in Capitalism?

No. Please.

Same old slippery slope nonsense. Every modern country in the world provides social services. To think that this should be eroded as technology and automation start to ramp up is just a clear display of human stupidity and greed.

What does that have to do with the topic of this thread?

1 Like

I thought this had gotten nore replies.

I’m still miffed that not even those people who countered criticisms of my post did not get my point.

Where does all the magical money come from now? Where do the banks get these endless funds to lend out during a downturn/recession? They couldn’t possibly be creating this magic money from nothing through the wizarding ways of our fractional reserve system, could they? Things that make you go hmmm…

Aaaaaaaand we’re taking the detour once more.

Says you. Fractional reserve lending is literally government policy in action.

Whether it is or is not, that is NOT the topic of the thread.

When Thatcher used “money” in her famous sentence, she had wealth in its broadest conception in mind. She wasn’t talking about literal bank notes!

The real question, does anyone care? Maybe you need a better topic.

It’s been damn near a year. Why won’t someone care about this??

Because its not a problem.