Short video: Margaret Thatcher on Socialism. Classic!

[Universal Mind]

EXACTLY!!!!!!!!!!!!!!!!!! I rarely applaud while watching a YouTube video by myself, but I died out laughing and started applauding when I watched that. She really hit the nail on the head. It was Thatcher's last time to speak at the House of Commons during her career as the prime minister of Britain (1979-1990). She really went out with a bang.

[Xei]

She fully supported the NHS, of course.

[Universal Mind]

She didn't try to get rid of it entirely, but she tried all kinds of capitalistic reforms on it. Thatcher was a big time capitalist. She made the very famous point that the problem with socialism is that eventually you run out of other people's money.

[Xei]

It's a false dichotomy really. At what point exactly does taking money from the population so as to provide coordinated services become excessive? Building public transport? Providing public education? Providing public healthcare? Building public accomodation? Providing public electricity? When it comes down to it 'capitalist' and 'socialist' are completely arbitrary terms that are often just used for rhetoric effect. In the UK you'd be considered a bit of a fascist nut for calling the NHS 'socialist'. In the US you'd probably be considered a nut for calling for the scrapping of public education.

[Universal Mind]

It's a false dichotomy really. At what point exactly does taking money from the population so as to provide coordinated services become excessive? Building public transport? Providing public education? Providing public healthcare? Building public accomodation? Providing public electricity? When it comes down to it 'capitalist' and 'socialist' are completely arbitrary terms that are often just used for rhetoric effect. In the UK you'd be considered a bit of a fascist nut for calling the NHS 'socialist'. In the US you'd probably be considered a nut for calling for the scrapping of public education. There are degrees of capitalism and socialism, but they are very real principles. I support as little government involvement as possible. If people you know call me a nut, I will call them out of touch with history. You can go ahead and tell them that for me if you want to. What do you think of the specific point Thatcher made in that video?