QUORA: ‘What is the distribution of wealth in socialist countries vs. capitalist countries?’

 QUORA **: ‘What is the distribution of wealth in socialist countries vs. capitalist countries?’

I posted this answer:

Under socialism*, the government has first claim on all wealth, and can seize it from those who earned it, in whole or in part, and redistribute it as it sees fit. The distribution of wealth is thus determined by coercive governmental means, as determined by political considerations.

Under capitalism, wealth remains in the hands of the people who earn it through their own productive work, in whatever quantity they earn it or otherwise acquire it honorably, based on the moral principle of property rights, secured by the government. To the extent wealth is redistributed, it is through strictly voluntary means, such as trade, charity, inheritance, etc. The distribution of wealth is what it is as determined by the cumulative sum of all voluntary transactions, and is of no concern to the government.

Most countries today are mixed economies—part capitalist, part socialist. So the distribution of wealth is determined partly by voluntary private choice, and partly by coercive governmental policy.

* [I’m assuming that the question refers to state, or political, socialism, not voluntary socialism. See my essay Criminal Socialism vs. a Free Society for clarification]

Related Reading:

Socialism vs. Welfare Statism: Why These Terms Matter

QUORA: 'How is becoming a billionaire even possible, chronologically?'

Equal Is Unfair: America's Misguided Fight Against Income Inequality—Don Watkins and Yaron Brook

QUORA: ‘Is capitalism voluntary?’

A Socialist Confirms that the Basics of ‘True’ Socialism is Totalitarianism

QUORA *: ‘What makes someone a socialist?'

QUORA: ‘How do capitalists justify the inequality/high disparity part of a capitalistic society that a socialistic system tends to stop?’

QUORA: 'Can certain forms of capitalism be made to work for the people instead of just the elite?'

QUORA *: 'How is capitalism good despite the fact that it creates higher and lower classes?'

QUORA: '[W]hy do we ignore all the examples of capitalism failing, like the major divide between the wealthy and the poor in the US?'

QUORA: ‘Given that I live in a capitalist society, how can I avoid having my labor exploited?’

** [Quora is a social media website founded by two former Facebook employees. According to Wikipedia:

Quora is a question-and-answer website where questions are created, answered, edited and organized by its community of users. The company was founded in June 2009, and the website was made available to the public on June 21, 2010.[3]Quora aggregates questions and answers to topics. Users can collaborate by editing questions and suggesting edits to other users' answers.[4]

You can also reply to other users’ answers.]