Which Economic System Is Best Suited for Handling a Crisis of Epic Proportions (Hurricane, Flood, Blizzard, Forest Fire, Etc.)?

Which economic system is best suited for handling a crisis of epic proportions (hurricane, flood, blizzard, forest fire, etc.)?

The best economic system suited for handling a crisis of epic proportions is the socialist economic system.

Why?

According to Wikipedia (http://en.wikipedia.org/wiki/Socialism), A socialist economic system is based on the organizational precept of production for use, meaning the production of goods and services to directly satisfy economic demand and human needs where objects are valued based on their use-value or utility, as opposed to being structured upon the accumulation of capital and production for profit. In the traditional conception of a socialist economy, coordination, accounting and valuation would be performed in kind (using physical quantities), by a common physical magnitude, or by a direct measure of labour-time in place of financial calculation. On distribution of output there has been two proposals, one which is based on the principle of to each according to his contribution and another on the principle of from each according to his ability, to each according to his need.

In cases of crisis of epic proportions such as hurricanes, floods, blizzard or forest fires the government usually steps in to help those in need by sending out nonprofit organizations equipped to handle the crisis and take care of the people who have been injured and/or are in need of products and services.

Describe and explain why a socialist system might be the best in responding to the needs of people struck by an emergency situation like the earthquake that occurred in Haiti in January 2010.

A socialist system supports the political philosophy of socialism, which is a governmental system that advocates community ownership and control of all lands and businesses rather than individual ownership. This system advocates a society based on cooperation rather than competition (http://www.vocabulary.com/dictionary/socialist).

Some of the...