Argument: The market should determine the price of products and services

A free market gives the power to the people to choose and decide what products and services should be offered to them. If many people want the same thing the demand will be higher and it will be profitable to offer them on the market since it will sell, therefore the people are in command of what products are being offered to them through their own want. The market is thus decided upon what people need and therefore there will be no excess products or services offered e.g. let us presume that many people want to see high quality basketball, a person like Michael Jordan who has a talent for basketball and has honed his basketball skills would in this case be much in demand. People are ready to pay for the service he offers (excellent basketball) and consequently his high wage will be justified. On the other hand a mediocre basketball player would not be paid at all since there is no demand to see mediocre basketball, his service does not have an attraction on the market and will thus be eliminated1/2. This is all part of what could be called a "dynamic capitalist system" which values individuality (honing your basketball skills), rewards ability (having basketball skills) and risk-taking (risking that you will succeed with it).

1 Adam Smith. (n.d.). The concise Encyclopedia of Economics. Retrieved June 20, 2011

2 Nozick, R. (1974). Anarchy State and Utopia (pp. 54-56, 137-42). Basic Books.

Candidate 1: "Socialism provides a more sustainable way of living

Capitalism always acts on the cost of nature and its ecological balance. With its imperative to constantly expand profitability, it exposes ecosystems to destabilizing pollutants, fragments habitats that have evolved over time to allow the flourishing of organisms, squanders resources, and reduces nature to the exchangeability required for the accumulation of capital. Socialism requires self-determination, community, and a meaningful existence. Capital reduces the majority of the world's people to a mere reservoir of labor power while discarding much of the remainder as useless. The present capitalist system cannot regulate, much less overcome, the crises it has set going. It cannot solve the ecological crisis (e.g. global warming) because to do so requires setting limits upon accumulation"
Candidate 2: "Capitalists often disregard the fact that people, although being individuals, also are formed by their social circumstances 1/2. People's class belonging, sexuality, sex, nationality, education etc. have a major impact on people's opportunities; there might be cases of individuals achieving the American dream like Barack Obama despite their social background, however this is not applicable to the majority of people. In capitalism the people with the most opportunities are usually the people who have the most capital, take the example of university students: universities in many countries such as the United States and United Kingdom charge students high tuition fees, if one is not wealthy enough to pay for these fees the likelihood to continue into further education is much lower (if a loan is provided one would have to risk to be indebted for a long period of one's life, or not have the opportunity to study at university at all)3. This can by no means be called an equal opportunity for everyone. It is not enough to provide opportunities; people must also be in a position to grab them.

1 Berger, P. L., &amp; Luckmann, T. (2007). Kunskapssociologi : hur individen uppfattar och formar sin sociala verklighet. (S. T. Olsson, Ed.). Falun: Wahlstr"
Candidate 3: "Under capitalism property is privatised under the presumption that it will not harm anyone or even that it will benefit everyone. This is not the case and what actually takes place is that property becomes concentrated into the hands of a relatively few well-off people leaving the rest more or less without property. The capitalist's bargaining position is far superior in comparison to the worker's (since he is a capitalist) and he can use it as an advantage in order to concentrate wealth for himself. If the capitalist has everything and the worker nothing it leaves the worker with nothing more than the mercy of the rich for work, charity, etc. Even if the capitalist offers the worker a salary on which he can survive (in comparison to unemployment a salary on which he can survive "makes him better off') it is a forced contract out of necessity from the worker's part1/2. Consequently private ownership is by no means on par with the possibilities of owning goods in common and is thus contradictory to the capitalists premise of not harming others3. Capitalism makes the majority more dependent on a minority than they would have been if property were shared.

1 Marx, K. (2010). On The Jewish Question. Marxist Internet Archive. Retrieved March 17, 2011

2 Marx, K. (2009b). A Contribution to the Critique of Political Economy - Preface. Marxist Internet Archive. Retrieved March 19, 2011

3 Cohen, G. A. (2008). Robert Nozick and Wilt Chamberlain: How Patterns Preserve Liberty. Erkenntnis (1975-), Vol. 11, S(No. 1), 5-23. D. Reidel and Felix Meiner. Retrieved June 9, 2011"
Candidate 4: "Often when consumers buy things they might ostensibly believe that they have a choice, when in reality they do not, since they are presented with several options; I could e.g. either watch this blockbuster movie or that blockbuster movie on the cinema. However, there is no option to watch anything else than a blockbuster movie and consequently there is no real choice offered. Capitalism has already decided what is going to be produced and the consumer is left with nothing else than purchasing whatever is provided. Another example could be that there might be a whole range of food options in the supermarket, but the good food is expensive and therefore the people with less income end up eating unhealthy food since they cannot afford the good food, therefore in practice there is no real choice since one of the options is not available for the people with less income because it is too expensive1. An additional counterargument might also be to question the validity that a product/service's price should be determined by the pure fancy of the market, is it really justifiable that Michael Jordan earns much more than e.g. a nurse? The nurse provides a service which saves lives while Michael Jordan only supplies entertainment, even if it is only Michael Jordan who can play a certain kind of high quality basketball and many more people are qualified nurses, it does not justify at all the wage difference between the two2.

1 Adorno, T., &amp; Horkheimer, M. (2005). The Culture Industry: Enlightenment as Mass Deception. Retrieved June 7, 2011

2 Sandel, M. (2004). Justice: What is the right thing to do? Allen Lane."
Candidate 5: "According to Karl Marx work should not be regarded as just a means to achieve a reward in the form of profit, work should (i) be directed to the need of their fellows, (ii) be an enjoyable, meaningful activity which develop human capabilities. In the capitalist system labour becomes distorted e.g. industrial work tends to be monotonous and dulling without any enjoyment at all. People are more or less coerced to work for their survival and accept even the most horrific work conditions; work is only performed on the capitalist's terms1/2. If workers did not have to fight for their survival and labour was directed to the meaningful activity of helping others instead of profit making for capitalists, incentives in the form of profit would be without value. The want to share wealth and material amongst the community is inscribed in the human essence and constitutes meaningful activity. It is not merely possible"
Candidate 6: "Socialism leads to a more humane equal society

The gap between poor and rich countries has never been as great as it is today, Warren Buffet's wealth was estimated to be a net worth of approximately US$62 billion in 20081, this while one in seven people on earth goes to bed hungry every night and 6.54 million children die of starvation and malnutrition every year2. The absurd inequality between people's wages is because of the capitalist system, since the capitalist's only aim is to generate profit there is no reason to keep anything other than a minimum wage for the workers. In a globalized world, rich countries can outsource industries to poorer countries where workers will not expect so high a wage. The lower the wages a capitalist can pay to the labourers, the more profit he can generate. A capitalist does not care whether his labourers' living standards are good, acceptable or bad (although he does want to maintain a level where the labourers will not die or rebel), as long as they deliver the work for the lowest wage possible3. Therefore a company CEO can gain an absurd amount of money since he will reap all the profit made from all the labourers in his company while the lowest worker in the hierarchy will only earn enough to survive. The ordinary worker does not have a free choice whether he wants to work or not since he is at such an inferior bargaining position that he has to accept the capitalist's offer in order to survive. According to socialism this inequality is atrocious, it can by no means be justifiable that an ordinary labourer who works equally as hard, or harder than a CEO should struggle for his survival while the CEO lives in unimaginable luxury. In socialism, production and wages are directed to human needs, there is consequently no need to maximise profit and thus this gross inequality would be evened.4

1 The World?s Billionaires: #1 Warren Buffett. (2008, March). Forbes.

2 Hunger. (2011). World Food Programme. Retrieved June 7, 2011

3 Engels, Frederick. (2005). The principles of Communism. Marxist Internet Archive. Retrieved June 7, 2011

4 Marx, K. (n.d.). Critique of the Gotha Programme: I. Marxist Internet Archive."
Candidate 7: "Socialism is a more secure system than the free market in Capitalism

'Credit bubbles' and resultant credit crunches (financial crisis) are inherent in the capitalist system. The economy undergoes a crisis whenever productive economic sectors begin to undergo a slowdown resulting in falls in profits. The recent crisis was caused due to the fact that there was an inflated investment in real estates. It was invested in with the purpose of keeping up profits which lead to a rise in the price of properties. Because of the increased price in property many people took out loans on their house and bought goods for the credit, thinking they could easily pay back their loans since their house would be more valuable at sale. However, since the rise of price was fabricated and not corresponding to an actual need (it was a bubble), house prices had to invariably go down at some point. When the prices eventually went down people could no longer afford to pay back what they had bought on their loaned houses and the installed payments were the trigger of the financial crisis. It could perhaps be said that the economy was surviving on money which did not exist (thereof the name 'credit bubble'). The result was that there were countless goods which no one could buy because no one could afford to pay for them, in turn this lead to a stagnation in the economy and hence to a crisis. A socialist system would not produce overconsumption since its aim is not profit but human needs, it would not have a reason to fabricate an investment for the sake of keeping up the profits and would therefore not cause a capitalist crisis1.

1 Roberts, M. (2008). The credit crunch - one year on. In Defence of Marxism. Retrieved June 7, 2011"

Often when consumers buy things they might ostensibly believe that they have a choice, when in reality they do not, since they are presented with several options; I could e.g. either watch this blockbuster movie or that blockbuster movie on the cinema. However, there is no option to watch anything else than a blockbuster movie and consequently there is no real choice offered. Capitalism has already decided what is going to be produced and the consumer is left with nothing else than purchasing whatever is provided. Another example could be that there might be a whole range of food options in the supermarket, but the good food is expensive and therefore the people with less income end up eating unhealthy food since they cannot afford the good food, therefore in practice there is no real choice since one of the options is not available for the people with less income because it is too expensive1. An additional counterargument might also be to question the validity that a product/service's price should be determined by the pure fancy of the market, is it really justifiable that Michael Jordan earns much more than e.g. a nurse? The nurse provides a service which saves lives while Michael Jordan only supplies entertainment, even if it is only Michael Jordan who can play a certain kind of high quality basketball and many more people are qualified nurses, it does not justify at all the wage difference between the two2.

1 Adorno, T., &amp; Horkheimer, M. (2005). The Culture Industry: Enlightenment as Mass Deception. Retrieved June 7, 2011

2 Sandel, M. (2004). Justice: What is the right thing to do? Allen Lane.
