Socialism

Dr. Peter Klein walks through Hayek's landmark 1945 essay "The Use of Knowledge in Society," showing how the price system communicates dispersed knowledge and why that makes comprehensive central planning impossible.

Dr. Jonathan Newman presents Hayek's "Why the Worst Get on Top", a critique of socialism distinct from the calculation and knowledge problems — showing that collectivism structurally selects the most ruthless for power.

Dr. Joseph Salerno unpacks Hayek's 1949 essay "The Intellectuals and Socialism," which explains why the intellectual class is systematically biased toward socialism, and why classical liberals must recover their nerve to counter it.

While Americans are tempted to see the Chinese economy as something akin to China, Inc., the reality is different. The Chinese government has not found a way to make socialism and interventionism work, no matter what myths might prevail.

Lenin wrote that the capitalists would provide the rope by which they would hang themselves. That certainly seems to be the case with the Bolshevik Revolution of 1917, which received strong financial help from the center of crony capitalism itself: Wall Street.

Lenin wrote that the capitalists would provide the rope by which they would hang themselves. That certainly seems to be the case with the Bolshevik Revolution of 1917, which received strong financial help from the center of crony capitalism itself: Wall Street.

In this week’s Friday Philosophy, Dr. David Gordon looks at philosopher Richard Miller’s stunning retreat from Marxism, the philosophy he espoused for most of his career.

The study of the policies of these two dead Cuban political leaders is worth remembering. They illustrate why cronyism and communism are economic failures for citizens and nations.

The interference of US sanctions against Cuba are also interfering with airline schedules and are damaging the airline industry.

Democratic socialists claim they can painlessly transform the US economy into one where no one has debt, housing and medical care is free, and the state meets everyone's needs. Their ideas are internally incoherent.