Socialism

Some stories:

1. A frequently-cited example of socialism is the “Tale of professor who failed entire class.” At a high-level, it shows what may happen when student grades are "socialized" - i.e., everyone gets the same grade.  In summary, a teacher says that the grade for each person in his class will be the average of everyone's grades.  Therefore, high achievers are penalized (those that get an A get a lower grade), and those that get low grades are happy (those that get a D get a higher grade.) Over time, the high achievers stop putting forth effort, and the average for the class decreases. 

2. About nine years ago, someone related a personal anecdote about an Italian wood artisan - a master woodworker - who crafted intricate wood work for buildings. He had hired a couple of other young woodworkers and was training them in his craft. At the time, he paid them based on their skill level. Then, the government enforced a “minimum” / “living wage” for all woodworkers, and the salary of those entry-level woodworkers went up considerably. The master woodworker, that is, the owner of that small business, could not pay those wages and let those entry-level people go. Now, he does all the work himself and is not training anyone on his craft. Net result: two lost jobs.