Articles & blogs on socialism (or free markets?)

Category: socialism (or free markets?)

The Private Sector Is Key to Vanquishing the Virus – and Winning the Peace

“As ever, there will be a chorus of collectivists who claim this crisis demonstrates the limits of the market and the case for expanding government. Yet the lessons of history are perfectly clear: in both war and peace, the private sector is integral to a thriving economy: that will be the case during this crisis, and we must not forget it once the coronavirus is eventually vanquished.”

How Socialism Became Un-American through the Ad Council’s Propaganda Campaigns

“Sanders is a Democratic Socialist. And the label ‘socialist’ is a political liability in American culture. […] In my research, I have found that this antipathy toward socialism may not be an accident: American identity today is strongly tied to an image of capitalism crafted and advertised by the Ad Council and American corporate interests over decades, often with the support of the U.S. government.”

Free Market or Socialism: Have Economists Really Anything to Say?

“the die-hard advocates of free markets do not exclusively belong to politics or policy environments. They seem to have the solid guarantee of academic respectability. A prominent case is Gregory Mankiw’s Principles of Economics (1998), possibly now the most widely adopted and influential textbook in economics; a quick glance at the book’s introduction teaches one the ten ‘principles’ of the economic discipline that define the relationship between incentive-driven individual decisions and the aggregate welfare generated by trade in competitive markets. The present essay is an attempt at instilling some doubt about this view, while retaining the basic premises of its holders.”

Book review: ‘The Socialist Manifesto’ by Bhaskar Sunkara

“The title is a misnomer, because The Socialist Manifesto is not much of a manifesto. It is mostly a history of socialist movements around the world. The ‘manifesto,’ such as it is, is in the opening chapter, where Sunkara briefly describes a fictitious near-future socialist America, and in the final chapter, where he describes a political strategy for socialists to grow their movement and win influence.”

Black Markets Reveal the Power of Economic Laws

“In contrast to the common perception, socialism has been unable to kill the market economy. The market went underground and turned into a black market. Black markets existed in capitalist countries as well, but they worked underground because they dealt in illegal commodities and services. The black market under socialism served the same purpose, but the list of commodities and services included mostly items of everyday and innocent consumption that people under capitalism could easily purchase in stores.”

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