While Ben Bernanke has accused free market and sound money advocates of pursuing “discredited” systems, he and his lieutenants were following a truly discredited way of thinking: socialism. The man who supposedly “saved the world” actually destabilized it.
Portugal's Estado Novo regime under António de Oliveira Salazar was lauded by some classical liberals for allegedly saving the nation from socialism. However, as Paulo Ferreira writes, for all practical purposes it was a socialist government.
Socialists have always tried to hide the true nature of socialism, presenting it as a mechanism to advance freedom when, in fact, it destroys liberty. Socialism needs to be unmasked.
History has shown that prosperity is built through economic freedom and self-reliance—not through perpetual financial transfers from former colonial powers.
Great Britain‘s Labour government, since coming into power last year, has taken a number of measures that already are resulting in lowering the nation's standard of living.
Due to the obfuscation of prices in a planned economy, individuals and firms do not have access to information they would have gained from prices otherwise.
"Universities are nurseries of socialism, but there's always a remnant of young people who resist the statist propaganda."
Dr. Fegley is a Fellow of the Mises Institute and chair of business and economics at Montreat College. In 2023, he joined the Mises University faculty, teaching on bureaucracy in the deep state, political economy of policing, and could AI and big data solve the socialist calculation problem.
Marx failed to grasp that there are laws of human action that apply universally. His understanding of economics was far inferior to that of Nassau Senior, whom he derided as the quintessential “bourgeois” economist.
Conventional progressive wisdom says that Nazism and Fascism were polar opposites to Communism. Yet, all of these totalitarian worldviews came from the same collectivist origins.
