The economics community is moving towards the left.

This is a combination of my observations and my own beliefs. There is a growing divide between traditional centrist economists and modern socialist economists. <br><br>&#x200B;<br><br>Centrist economists argue that when you significantly increase corporate taxes and regulation, you drive businesses out with the rising costs. Centrist economists often argue that government spending should be extremely efficient in order to maximize a government's output and a lower tax burden allows individuals to invest their money more efficiently due to a lower tax burden. They often argue that socialism and communism lead to inefficient allocation of resources by governments and that these systems tend to lead to authoritarianism. In some ways, they are like libertarians in this regard, but they are more okay with government spending due to the fact that governments are more effective at distributing funds than individual citizens. Centrist economists tend to support government interventionism in the economy in some regard, but they tend to agree that there needs to be a happy medium between government intervention and freedom due to the fact that excessive government intervention often leads to extremely negative outcomes. <br><br>&#x200B;<br><br>Modern socialist economists argue that corporate welfare and tax breaks are the root causes of government budget deficits. They often argue that increasing taxes on the wealthy leads to more jobs, more opportunities, and a more sustainable economy. These economists argue that a more government-controlled economy leads to a more fair environment through social welfare programs and affordable or free education and healthcare. Many of these economists believe that modern capitalism has led to the unnecessary formation of monopolies and concentration of wealth. Socialists often believe that the legal system does not allow for fair markets due to the fact that extremely wealthy corporations are able to hire extremely expensive legal teams to defend themselves. Socialists tend to argue that the government, with their ability to tax and redistribute wealth through social programs, is the only way to protect the rights of the poor. These economists tend to agree that there needs to be a large government-run sector and a large private sector in order for an economy to thrive.<br><br>&#x200B;<br><br>I support the modern socialist approach with a few caveats. I agree that when you significantly lower corporate taxes, you see more job growth and more opportunities due to the fact that lower taxes allow for more businesses to thrive with more money available to them. However, I also agree with the fact that higher corporate taxes with higher social spending leads to better economic outcomes for poor people along with a more fair distribution of resources. I believe that there needs to be a balance between government intervention and freedom in order to achieve maximum economic growth and efficiency. Therefore, I believe that socialism is better for the majority of the population, but capitalism is more effective in short-term growth along with a more fair allocation of resources.<br><br>&#x200B;<br><br>This is a post from a 17-year-old with an interest in economics. I am not an expert, but everyone is entitled to an opinion.