Socialism

Socialism's failures are well-known, but true believers abound that insist that this time we can make it work. The question is why anyone still believes in it at all.

Socialism's failures are well-known, but true believers abound that insist that this time we can make it work. The question is why anyone still believes in it at all.

The mistake is comparing an imperfect market with an imaginary government possessing perfect information, perfect incentives, and perfect foresight. The proper comparison is between real and imperfect alternatives.

On this episode of Power & Market, Ryan, Connor, and Tho toast to Mises's 145th birthday by discussing his life and legacy.

The criminal regime of Fidel Castro not only stole the property of mathematician Aurelio Baldor, but also falsely claimed to have made the mathematical discoveries that were Baldor’s.

Democratic socialists are always talking about what they will do in the future. That is because they would rather we forget what they did in the past.

Liberty is not preserved by guaranteeing outcomes. It is preserved by ensuring that individuals are free to rise through their own effort, unencumbered by a state that increasingly mistakes its own distortions for market failures.

Polls tell us that large numbers of Americans want a Medicare for all healthcare system that is “free” to everyone, paid by tax dollars. What people don’t realize is that the system that would emerge would be much less responsive than what we have now.

Marx held that class conflict was the overriding issue of his day, and Marxists still hold to that viewpoint. Their assumptions about class, however, do not square with modern reality.

For all the claims made by socialists that capitalism produces monopolies, socialists argue for one big monopoly to control everything: the state.