Socialism

Thomas Sowell has a gift for explaining how markets are simply the result of human beings making free choices. There is no single market answer to a problem. There are countless answers.

David Gordon reviews Prosperity and Liberty, a compilation of essays on Venezuela's wrecked economy and plans for reconstruction, edited by Rafael Acevedo.

Chile is the most prosperous country in South America precisely because it has (so far) avoided adopting the socialist policies being pushed on it by left-wing reformers.

Marx believed truth could only be fully understood by a certain socioeconomic class. Ludwig von Mises disagreed.

The deadliest virus consists of the deification of human reason and the systematic use of coercion, which the state embodies.

China’s “new infrastructure” will likely be but one more example of the false promise of technology as an antidote to the irrationality of state-controlled economies.

Mises knew: “Mass unemployment destroys the moral foundations of the social order. The young people…forced to remain idle, are the ferment out of which the most radical political movements are formed."

Measures of wealth inequality overstate actual inequality in terms of the standard of living of wealthy people relative to the rest.

Chile is the most prosperous country in South America precisely because it has (so far) avoided adopting the socialist policies being pushed on it by left-wing reformers.