Page 138 - Swatantrata to Atmanirbharta : Lokmanya Tilak’s legacy

SOCIALISM VERSUS ENTREPRENEURSHIP

Socialism
Socialism with its philosophy of controlling means of
production and distribution, restricts people’s freedom to
progress, and a nation’s aspiration to become an economic
power, which is essential for its national security. In socialism,
the State usurps society’s powers to decide what is good or
bad for it. The State dictates on these two aspects with an
aura that the State knows the best what is beneficial for the
society. Subsequently, the State appropriates the media to tell
the society what is good for it, while undermining other views.
Thus, in socialism, freedom of thought is walled; while freedom
of expression is unrestricted, which does not matter because
people know only one view. Socialism, in its avowed attempts
to build a classless society, breeds a ‘new class’ of politicians
and bureaucrats. The class becomes corrupt, least concerned
about the nation, and most concerned about their own power.
This class leads to its destruction. Former Yugoslavia, Soviet
Russia, and Cambodia are blaring testimonies to this assertion.
Socialism gives individuals economic security and social
welfare. Since socialism is averse to creating national wealth,
the economic security and welfare it gives, is of a poor quality.
However, whatever wealth is created is cornered by the ‘new
class’. By suppressing entrepreneurship, socialism prevents
flourishment of innovation and initiative. This frustrates talent
for development and evolution. Consequently, mediocracy
prevails, which either sidelines or drives out talent and
entrepreneurship.

Entrepreneurship
Entrepreneurship not only controls but creates means of
production and distribution and fosters them. This creates
prosperity as against the scarcity which is a hallmark of
socialism.

Entrepreneurship promotes individual talent, innovation,
and enterprise. As opposed to a socialist state which is
restrictive and regressive, an entrepreneurship state gives lot
of freedom to the individual to develop, progress and evolve.

Swatantrata to Atmanirbharata 136