Socialism

Industrialization and capitalism finally freed us from the starvation and deprivation of endless centuries of subsistence living. Now socialists in Venezuela have managed to reverse centuries of progress.

Mises explained how the liberal society does not encourage isolation of individuals. In fact, “there is no conflict of interest between society and the individual, as everyone can pursue his interest more efficiently in society than in isolation.”

If we stick to the data, regardless of which socioeconomic indicator we choose, it seems clear that the sharp economic downturn began long before 2017.

In the Soviet Union, any significant goods had two price tags: one real and another virtual. One was the actual black-market price. The other was the "official" government price.

Beyond the usual arguments about incentives and taxes, UBI is a dangerous policy that supercharges the state and threatens to heighten tensions between different groups in society.

Quite simply, there should be no public policy box marked “broadcasting.”

While many have been talking about Venezuela's food shortages,  Cuba is now implementing a rationing program to combat its very own socialism-induced shortages of basic goods.

Environmental activists in US politics are making it quite clear that their goal is nothing short of a socialist economic revolution.

Socialism will always encounter two big problems when regimes attempt to implement it: 1) the impossibility of economic calculation without true market prices, and 2) the lack of an incentive to produce only what consumers actually want. 

Socialist regimes have long gone to great lengths to replace all the independent institutions of civil society with the omnipotence of the state in all things.