Socialism

Economic calculation is not an either-or proposition. Even in so-called market economies like that of the USA, there is plenty of government intervention that distorts market processes.

"It may be hard to swallow, but central banks were not created for the greater good but to support the state and special interest groups."

Progressives have distinguished themselves in the past half century by being against progress. That trend is unlikely to change.

For the past seventy years, the major US foundations have been the main drivers of socialism, even more so than the state bureaucracies.

China rose from poverty after the Mao years only because its political leadership embraced private property and a market economy. Unfortunately, today the Communist leadership is moving back to socialism.

To progressive elites, the state (at least one run by progressives) is omniscient and all-powerful. To anyone with understanding, the state is an entity usually run by gangsters.

The seventy-fifth-anniversary celebration of the British National Health Service masked the real failures of this system, one that only can become worse over time.

David Gordon continues his analysis of Graham Priest’s book, Capitalism: Its Nature and Its Replacement. While Priest might not understand either Marxism or capitalism, his book has useful insights.

Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.

While Graham Priest seems to have "rescued" Marxism from the labor theory of value, he cannot rescue Marxism itself.