Other economic systems can be just as bad if not worse than socialism
Economic systems can be manipulated for people's benefit. This is widely seen with Capitalism, however, other systems can also be taken advantage of for personal gain. One system is not better than any other; they all have their individual faults.
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The Argument
Socialism is only one of the systems used in today's society. With economic systems which ones are 'good' and which ones are 'bad'? If they work shouldn't they be considered good? The problem is that the success of an economic system is not directly tied to the success of individuals, which brings into question what is an ethical economic system? How ethical is socialism?
The question to ask is, is socialism in comparison to the other systems really that problematic? Looking at it individually, problems crop up under socialism because it relies on the good in human nature and ignores the competitive spirit. There is no space for entrepreneurial ideas or innovation, and governments often hold a large amount of power over their people. [1]
Other economic systems have similar if not worse problems. Capitalism is a competitive market and if there’s a lack of laws keeping it in check it’s very easy for big companies to completely overtake small businesses, as seen in America. Communism does not usually tolerate opposition and can be extremely controlling, as seen with some of the laws and regulations that China has passed. [2]
There are many pros and cons but at the end of the day an economic system will stay a system. They can be beneficial, or outright oppressive, what matters is how they are used.
Counter arguments
An economic system is supposed to benefit the people and the country and is faulty when only a small percent reap the benefits. The problem with economic systems is that while there are laws in place to try and prevent manipulation the people in charge make the rules. The rules are meant to benefit them and these benefits usually happen at the consequence of others.
All economic systems in theory are beneficial when put into practice but human nature is wide and varied.[3] There are those who are lazy who will only put forth the bare minimum, then there are go-getters who take risks and try to rise up. A sole system does not cater to all people. This is also why many communities use a mix of systems that best suit their market.
Socialism is, in a sense, a system with outward appeal but internal conflict. Helping each other as a community is all well and good when a community is small but on a larger scale you need more than just cooperation to succeed both nationally and internationally.
Proponents
Premises
[P1] Economic systems are complicated and can be manipulated
[P2] Depending on what those manipulators do, a system could easily become corrupted