# kaal:claim:3709041-007

**Claim.** Both dominant ideologies fail in symmetrical ways: capitalism produces inequity, inequality, monopolies, and other market failures, while socialism has incentive design defects in which hard work is not effectively rewarded and external costs are largely ignored.

**Type.** failure  **Support.** argued

**Source quote.**

> Capitalism can lead to significant inequities, inequality, as well as monopolies, and other market failures. Similarly, socialism has significant incentive design issues, where hard work is not rewarded effectively and external cost are largely ignored.

**From.** Kaal, *Blockchain Technology for Good* (2020), II.1 Transcending Socialism and Capitalism, page 10

**Cite as.** Kaal, Blockchain Technology for Good (2020). SSRN: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3709041

**Verify.** sha256 of source PDF `5216a7bca45a48e3bef11ec524936e66af737c0fd66271e9f6866dc20a4482cc` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202020%20-%20Blockchain%20Technology%20for%20Good.pdf

**Failure mode.** symmetrical failures of capitalism and socialism  (family: inequality-and-access-divide)

**Topics.** risk-and-incentives, economics

**Keywords.** capitalism, socialism, incentive-design, market-failure, externalities

**Related claims.**

- restated_by: https://wulfkaal.github.io/claims/3808867-004

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.