What they teach you in College:
Capitalism is evil. “Those capitalists are greedy people!”
Socialism is fair. “Socialists fight for social justice and equality!”
Capitalism is a system whereby you earn according to your use of your capital (time, talent, money, etc). This is justice.
Socialism is a system whereby you acquire money simply for being a member of society, irrespective of your contribution to the society. To do this, money has to be confiscated by the government from the productive to be redistributed to the unproductive. This is injustice.
Biblical principles teach capitalism and condemn socialism. A worker is worthy of his hire, thou shalt not steal, if a man doesn’t work neither shall he eat, etc.
College students also often say, “Jesus was a socialist. Jesus taught to give to the poor.” The fallacy of this argument is understood when you understand the fundamental difference between the nature of charity and the nature of socialism. Charity requires capitalism because charity is the voluntary sharing of your own private property or capital to meet the personal needs of another. It is only “charitable” if the other person is not entitled to it.
Capitalism encourages labor and productivity. Socialism takes the incentive out of industry and in fact rewards the unproductive and punishes the productive. Capitalism is good for America. Socialism is bad.