Thomas DiLorenzo's The Problem with Socialism PDF

By Thomas DiLorenzo

ISBN-10: 1621575896

ISBN-13: 9781621575894

Remember whilst "socialism" was once a grimy observe? Now scholars at America's elite universities are parroting socialist conversing issues and "sure-thing" Hillary Clinton is suffering to win the Democratic nomination opposed to a 74-year-old avowed socialist who provides to make the country extra like Europe. what is occurred? Do american citizens want a reminder in regards to the risks of socialist ideology and practices?

Thomas DiLorenzo, economics professor and senior fellow on the Ludwig von Mises Institute, deconstructs the retrograde ideology that has without notice turn into disturbingly hip in The challenge with Socialism.

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No government program, for instance, can ever change the fact that Saudi Arabia is a vast desert with huge supplies of oil, or that the American Midwest contains millions of acres of some of the most fertile farmland on earth. The Saudis specialize in oil and sell it to Americans; Americans specialize in agriculture and sell food to the Saudis whose irrigation systems, as sophisticated as they are, still render agricultural production several times more expensive than what can be achieved by American farmers.

Moreover, to preserve the integrity of markets, a market-friendly society always has laws against fraud. But envy is a powerful emotion, and so is fear, even among the wealthy and successful. Mises offered an intriguing analysis of why so many in the entertainment industry, for instance, are egalitarian socialists. ”8 This inherent instability of fame and fortune is what makes so many in the entertainment industry so critical of capitalism and so embracing of socialism, even though it is the freedom of capitalism that makes them rich and famous in the first place.

4 This is because government justifies itself by regulations, and regulations seek to impose uniformity and government control. Almost every government intervention in the economic sphere is, in reality, an attack on the natural division of labor and knowledge—the glue that holds human civilization together—in favor of a bureaucratic diktat. Every minimum wage/maximum hour law, “progressive” income tax, welfare state program, labor regulation, employment quota, tax on dividend income, special corporation income tax, and on and on, whittles away at the societal benefits of the division of labor in the forever-failing attempts to use governmental force to achieve the holy grail of material equality.

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The Problem with Socialism by Thomas DiLorenzo

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