One year his students, obviously watching too much MSNBC at the time, insisted that socialism worked since no one would be poor and no one would be rich. Everyone would be equal, and there would be no strife, no jealousy and no discord.
The professor said, “OK, we will have an experiment in this class on socialism. All grades will be averaged and everyone will receive the same grade so no one will fail and no one will receive an A.”
After the first test, the grades were averaged and everyone earned a “B.” The students who had studied hard were upset, they felt they deserved an “A,” while the students who had studied very little were quite happy with the results. This was utopia indeed!
The second test rolled around, the students who had studied little studied even less and the ones who had studied hard decided that since they couldn’t make an “A,” no matter what they did, they also studied less. The second test average was a “D.”
No one was happy, and privately, the lazy kids blamed the smart kids for not working hard enough. When the third test rolled around the average grade was an “F.”
For the rest of the semester, the scores never increased as bickering, blame and name calling resulted in hard feelings and no one would study for “anyone else.” They continued to fight and blame, until it tore the class apart. People dropped the class, people quit, people gave up. They all failed.
The professor told the few remaining students that socialism, too, will ultimately fail because of the same basic human principles of incentive.
The harder people try to succeed the greater their reward (capitalism), but when a government takes all the reward away (socialism) no one will try or succeed.
It is a simple truth. Do not let complicated, pseudo-academic frauds argue any different. Competition works, without it, nobody wins.