Socialism

The seventy-fifth-anniversary celebration of the British National Health Service masked the real failures of this system, one that only can become worse over time.

David Gordon continues his analysis of Graham Priest’s book, Capitalism: Its Nature and Its Replacement. While Priest might not understand either Marxism or capitalism, his book has useful insights.

Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.

While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.

The East German secret police, the Stasi, developed the art of mass surveillance using pre-digital  methods. Modern tech now makes the job a lot easier. 

The possible bankruptcy of Thames Water Company in Great Britain brings to mind the heady days 40 years ago when Margaret Thatcher's government was privatizing state-owned enterprises, including TW. Not all privatization stories have happy endings.

Despite what many elites believe, AI can do many things, but it cannot successfully plan an economy. It lacks the intelligence of an entrepreneur.

In recent decades a new type of mercantilist enterprise has become key in many federal programs. These are the nonprofit foundations that help create government pilot programs, fund pro-regime media projects, and work with regimes to accomplish ideological projects hatched by the ruling class.

Professor Quinn Slobodian believes that free markets must lead to tyrannical worker exploitation, and socialism is the only solution. In truth, market competition is the answer. 

President Biden announced recently to much fanfare that his administration will transform the US economy through central planning. This does not end well.