THE FALLACY THAT IS SOCIALISM

It is now roughly one hundred years since the world became enamored of Socialism. In the intervening decades, the infatuation with the socialist experiment has led to environmental despoliation, starvation, the demise of entrepreneurial initiative, and the spread of a welfare mentality. The rise of demonic monsters such as the Castro brothers, Mao Tse-Tung, Stalin, Hugo Chavez, Kim Jung Un, among others, was the direct consequence of the extinguishment of individual initiative, human dignity, and citizen freedoms.

In the United States, political leaders with an unquenching thirst for position and power are at it again proselytizing to the public that Socialism is in the best interest of the nation. They count on the economic illiteracy of the citizenry to vote them into power on the strength of a myth that Socialism renders equality for all.

The florid rhetoric of socialist fanatics aside, Socialism is unworkable the moment central planners substitute their actions for the myriad actions of players in a free-market society.

At the heart of the unworkability of Socialism and why it is always destined to fail is that, as the great economist Ludwig Von Mises asserted, in the absence of the private ownership of an enterprise it is impossible to establish market prices that reflect actual market conditions. And, in the absence of true market prices it is consequently impossible to make judgements about the most effective uses of economic resources.

Rest assured, proponents of Socialism – demagoguery aside – are not able to cite one historical antecedent where the egoism and presumed “wisdom” of central know-it-alls were an able substitute for the actions of sovereign consumers and producers in a free-market society.

Citizens owe it to themselves to undertake self-study and research to immunize themselves against the deadly virus that is Socialism and which is being transmitted by unscrupulous politicians.

Management Advisor

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