Socialism

“Made in France: Biden’s Fiscal and Regulatory Socialism,” Richard M. Ebeling, FFF, August 30, 2021.  Posted on Friday, September 3, 2021.

“Why Republicans Are Powerless Against Socialism,” Laurence Vance, September 11, 2019.

Socialism: An Economic and Sociological Analysis, Ludwig von Mises, 1922.

Socialism is most famous for Mises’s penetrating economic calculation argument. The book contains much more, however. Mises not only shows the impossibility of socialism: he defends capitalism against the main arguments socialists and other critics have raised against it. A centrally planned system cannot substitute some other form of economic calculation for market prices, because no such alternative exists. Capitalism is true economic democracy.

Socialism & Economic Calculation

Find my notes to this presentation here.

Professor, Thomas J. DiLorenzo, “Ten Things Millennials Should Know About Socialism,” posted here on Sunday, July 18, 2021.

DiLorenzo cites L.V. Mises’ book, Socialism: An Economic and Sociological Analysis, and Mises’s point on destructionism.

7-minute mark:

India got its independence [August 15, 1947], they adopted sort of a version of a Soviet Five-Year Plan and India became synonymous with 3^rd world poverty.  But India was once one of the world’s wealthiest countries on earth a long, long time ago when they had more economic freedom.  They’ve made improvements since those days but it was a terrible disaster that they went in that direction.  Africa did exactly the same thing after colonization ended, all of these African countries adopted socialism in one form or another and central planning. And if you’re interested in that particular topic, one of the authors that I cite is George B. N. Ayittey, whose written many books on this.  Last I was in touch with George, he was teaching at American University in Washington, D.C.  He’s from Ghana, but he’s been in the U.S. for many years.