Socialism

As dismissive as many of us would like to be toward Marx’s thoroughly debunked labor theory of value, it still holds currency among today’s budding socialists.

The American Left used to argue that we needed higher taxes on the rich so they would "pay their fair share." Nowadays, they are arguing that billionaires shouldn't exist at all.

Disillusioned in the Prussian state, the Young Hegelians proclaimed the inevitable coming apocalyptic revolution to destroy and transcend that state.

That so many voters, pundits, academics, and media figures are taken in by the Warren-Sanders wealth confiscation and redistribution schemes does not bode well for our economic and political future.

It is noteworthy to remember that no other American milieu was more enthusiastic in the endorsement of communism than that of Hollywood.

In a sense, it is hardly surprising that so little attention has been paid to scandals within universal healthcare systems given the histories of underperformance, scandal, and perpetual crisis associated with many such systems.

How can state enterprises in Venezuela be desocialized? What would a privatization law look like for Venezuela? The authors describe a proposal to move Venezuela toward free markets.

For many Brazilian voters, Jair Bolsonaro offered a chance to break with decades of failed economic policies. Time will tell if they were right.

Prof. Bylund discusses his native Sweden, and why we can't understand economics without understanding the entrepreneur, and how the entrepreneur is absolutely central and essential to a growing economy.