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Posts Tagged ‘Socialism’

I’ve written many times about socialism, which is sometimes a frustrating task because the definition is slippery.

I suspect the average supporter of Bernie Sanders or Alexandria Ocasio-Cortez thinks that socialism is big government, with lots of handouts financed by class warfare taxation. Since that’s the common perception, is that the definition we should use?

The technical definition of socialism, though, is government ownership of the means of production, which entails central planning, price controls, and other forms of intervention. So, at the risk of being pedantic, is that how the term should be defined?

As an economist, I prefer the latter approach. Which is why I’ve pushed back (though not necessarily in a favorable way) against those who called Obama a socialist.

A few years ago, I tried to reconcile this definitional conflict by creating a diagram to show that there are several strains of socialism (or statism, leftism, progressivism, or whatever you want to call it).

I also created a 2×2 matrix to show how various nations should be characterized when measuring redistribution and intervention.

If you think I’m somehow being unfair, check out this recent column in the New York Times. Even an advocate for socialism has a hard time saying what it is.

Public support for socialism is growing. Self-identified socialists like Bernie Sanders, Alexandria Ocasio-Cortez and Rashida Tlaib are making inroads into the Democratic Party… Membership in the Democratic Socialists of America, the largest socialist organization in the country, is skyrocketing, especially among young people. …what do we mean, in 2018, when we talk about “socialism”? …Socialism means different things to different people. For some, it conjures the Soviet Union and the gulag; for others, Scandinavia and guaranteed income. But neither is the true vision of socialism. What the socialist seeks is freedom. …when the basic needs of life compel submission to the market and subjugation at work, we live not in freedom but in domination. Socialists want to end that domination: to establish freedom from rule by the boss, …from the obligation to sell for the sake of survival.

His claim that socialism is freedom sounds bizarre.

And it is bizarre. But it’s not new. It’s the crazy idea of “positive liberty” that was the basis of FDR’s so-called economic bill of rights.

Basically, we should all be “free” to live off of other people (though this cartoon sums up why that approach doesn’t work).

Though that’s just the start. Socialism eventually will mean…well, the proletariat will decide at some point.

There’s not much discussion, yet, of classic socialist tenets like worker control or collective ownership of the means of production. …today’s socialism is just getting started. …In magazines and on websites, in reading groups and party chapters, socialists are debating the next steps: state ownership of certain industries, worker councils and economic cooperatives… Mass action — sometimes illegal, always confrontational — will determine socialism’s final form. …As Marx and Engels understood…it is workers who get us there, who decide what and where “there” is. That, too, is a kind of freedom. Socialist freedom.

Is that the “freedom” to set up gulags and exterminate enemies?

I guess we’ll have to wait and see.

Writing for Bloomberg, Professor Noah Smith is both sympathetic and worried about the putative resurgence of socialism.

Observing the disaster that is Venezuela, many free-market proponents are inclined to say that socialism always fails. To bolster their claim, they can also point to the Soviet Union, to North Korea, or to Vietnam and China before those countries implemented free-market reforms. Those self-described communist systems generated vast poverty and famine… defenders of socialism have their own historical examples to cite. …Though one can quibble over the definition of the word “socialism,” there’s little question that the so-called social democracies of Denmark and Sweden offer some of the world’s highest living standards.

That being said, Smith is concerned that advocates of socialism don’t understand the risks of too much government. He cites a couple of examples, including the failure of price controls and also how India suffered from statism before starting reforms in 1991.

But his comments about the United Kingdom and the Thatcher reforms may be the most important, because the Brits actually tried real socialism (i.e., government ownership of the means of production).

…the U.K. provides a cautionary tale. After World War II, the U.K. nationalized industries like steel, coal, aviation, electricity, rail transport and some manufacturing. But the British economy lagged behind its continental European peers during the midcentury. Manufacturing and transportation especially stagnated. By the time Margaret Thatcher became prime minister in 1979, both France and Italy were richer in per capita terms… Thatcher unleashed a wave of privatizations, along with other free-market policies. Britain…growth accelerated, and by 1997 it had caught up and passed France and Italy.

Here’s a chart from his column showing how the U.K. fell behind when it was socialist but then regained the lead following pro-market reforms.

Professor Smith’s cautionary words are noteworthy since he (based on having read dozens of his columns) leans to the left.

And here’s another criticism of socialism, this time from an unabashed liberal (in the modern sense of the word, not classical liberalism). Bill Scher has a withering review of a new book by a group of socialists.

Felix Biederman, Matt Christman, Brendan James, Will Menaker and Virgil Texas—of the socialist, satirical podcast Chapo Trap House…make bank by selling you a candy-coated version of socialism, one that may offend real socialists even more than liberal gruel-peddlers like myself. …The indoctrination begins with a condemnation of America’s containment of Soviet communism. …“Who cares?” if the Soviets won the Cold War, they write. …After blaming American-led capitalism for the world’s ills, the authors take aim at their favorite target: liberals. …In their evisceration of liberals and establishment Democrats, we get the usual left-wing criticisms of the Barack Obama and Bill Clinton presidencies… The Chapo crew’s romp through the history of feckless liberalism doesn’t stop with Obama and Clinton. Jimmy Carter is slammed… Lyndon Johnson is excoriated… Not even Franklin Delano Roosevelt escapes.

By the way, I can’t resist interjecting to point out that socialists had good reasons to condemn Bill Clinton’s presidency. After all, economic freedom increased during his tenure.

Though I suppose they also should be free to criticize other Democratic administrations for the supposed sin of not moving to the left at a faster rate.

The conclusion of Scher’s review is brutal.

After slogging through 276 of the book’s 282 pages of bad history…, the authors finally get around to their grand plan. Spoiler alert! This is literally it, in its entirety:

“After setting everyone on equal footing (by seizing the billionaires’ money, socializing their wealth, and handing the keys of production over to workers), you’re looking at an economy that requires something like a three-hour workday, with machines taking care of most of the drudgery; and—as our public fund pays for things like health care, education, scientific research, and infrastructure—all this technology actually makes work quicker, easier, and more enjoyable.”

The notion that socialism is going to slough off all that annoying labor to our forthcoming legion of robot slaves may come as a surprise to many socialists. …The Chapo hosts’ aversion to hard work extends to this book. Why suffer the details of how this nonworkers’ paradise, free of paper pushing and ditch digging, is going to be realized, when you can take in more than $1 million a year by dressing up stale arguments and thin policy ideas with inside jokes? The infomercial socialists of Chapo have exploited the free market expertly, and at least saved themselves from the 9-to-5 prison.

Until reading this review, I confess that these clowns were unknown to me.

But I’m going to take a wild guess that (like Michael Moore) they don’t share their wealth with the masses.

Let’s close by now perusing a serious economic analysis of socialism. Mark Perry of the American Enterprise Institute looks at Why Socialism Failed.

Socialism is the ultimate Big Lie. While it falsely promises prosperity, equality, and security, it delivers the exact opposite: poverty, misery, inequality, and tyranny. Equality is achieved under socialism only in the sense that everyone is equal in his or her misery. …Socialism does not work because it is not consistent with fundamental principles of human behavior. …it is a system that ignores incentives. …A centrally planned economy without market prices or profits, where most of the property is owned or controlled by the state, is a system without an effective incentive mechanism to direct economic activity. …The strength of market-based capitalism can be attributed to an incentive structure based upon the three Ps: (1) Prices determined by market forces, (2) a Profit-and-Loss system of accounting, and (3) Private Property Rights. The failure of socialism in countries like Venezuela can be traced directly to its neglect of these three incentive-enhancing features.

Here’s some of what Mark wrote about socialism and prices.

The only alternative to a market price is a government-imposed price that always transmits misleading information about relative scarcity. Inappropriate behavior results from a controlled price because false information is transmitted by an artificial, non-market price. …The situation in socialist Venezuela provides a current example of the chaos and inefficiencies that are guaranteed to result from government price controls. As could be easily predicted, the widespread price controls imposed by the socialist regime in Venezuela in recent years led to chronic shortages of basic goods like milk, flour, rice and toilet paper, and long lines of customers waiting for hours to buy groceries at stores that frequently have mostly empty shelves.

Here are excerpts from his analysis of socialism and profits.

A profit system is an effective monitoring mechanism that continually evaluates the economic performance of every business enterprise. The firms that are the most efficient and most successful at serving consumers are rewarded with profits. … the profit system provides a strong disciplinary mechanism that continually redirects resources away from weak, failing, and inefficient firms toward those firms that are the most efficient and successful at serving consumers. …Under central planning, there is no profit-and-loss system of accounting to accurately measure the success or failure of various firms and producers. Without profits, there is no way to discipline firms that fail to serve the public interest and no way to reward firms that do. … Instead of continually reallocating resources towards greater efficiency, socialism falls into a vortex of inefficiency and failure.

And here are portions of what he wrote about socialism and property rights.

The failure of socialism around the world is a “tragedy of commons” on a global scale. …When assets are publicly owned, there are no incentives in place to encourage wise stewardship. While private property creates incentives for conservation and the responsible use of property, public property encourages irresponsibility and waste. …Public ownership encourages neglect and mismanagement. …Venezuela today is moving in the opposite direction. Under Hugo Chavez, the private property and assets of foreign-owned oil companies from the US, France, and Italy were nationalized and converted to state-owned, state-managed assets. The results were completely predictable: corruption, lack of investment, deteriorating capital assets, mismanagement and a sharp and ongoing decline.

His conclusion is especially powerful.

By their failure to foster, promote, and nurture the potential of their people through incentive-enhancing institutions, centrally planned, socialist economies deprive the human spirit of its full development. Socialism fails because it kills and destroys the human spirit… Programs like socialized medicine, free college, guaranteed jobs, free housing, and living wage laws will continue to entice us… But those programs, like all socialist programs, will fail in the long run…because they ignore the important role of incentives. …Socialism is being repackaged and recycled by today’s left-leaning politicians including Sanders and Ocasio-Cortez and is being taken seriously by a new young and gullible generation, many who weren’t even alive when the historic events of the 1980s and 1990s occurred including the fall of the Berlin Wall and the collapse of the Soviet Union. But the lessons from history about the defects, deficiencies, and failures of socialism are very clear. As we’ve learned from countless examples throughout history, including now Venezuela, the main difference between capitalism and socialism is this: Capitalism works.

Amen.

The observation that capitalism works and socialism fails is the point of my two-question challenge for my left-leaning friends.

To be sure, my challenge applies to conventional leftists as well as all varieties of socialists.

The advocates of bigger government surely should be required to show at least one example of how their policies work in the real world. But they can’t.

I’ll close by sharing this wonderful video of Dan Hannan explaining why liberty is better than socialism.

If you enjoyed that video, you can also watch Hannan in action here and here.

P.S. If you want to laugh at socialism, check out this collection.

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A few days ago, I posted an interview about the supposed resurgence of socialism and pointed out that Bernie Sanders isn’t really a socialist. At least if we use the technical definition of that unsavory form of statism.

Based on reader reaction, though, what people most liked about that column were the links at the end to various examples of anti-socialism humor.

I’m happy to cater to those preferences since I like mocking statist ideologies, so let’s enjoy a new edition of socialism humor.

I’ve previously posted a column that summarizes socialism in three pictures. Well, here’s the four-picture version.

By the way, left-wing friends have nit-picked by arguing that some of these photos don’t depict actual socialism.

I tell them that they’re being too literal. That’s not how humor works. Moreover, if they want to have a debate on the real-world consequences of socialism, I’m happy to do that.

I’m not even sure this next item, from libertarian Reddit, makes sense. But I confess I laughed when I first saw it.

Maybe it’s just because both only math-challenged people are drawn to Bernienomics and this “special.”

This next cartoon, also from libertarian Reddit, is self-explanatory.

Very similar to the last cartoon in this collection.

Let’s shift from images to an article. I’m not a conspiracy-minded guy, but I’ve sometimes wondered whether all the feature articles in the establishment press about ant colonies and bee hives is a subliminal effort to promote socialism. With that in mind, this satire from Babylon Bee is spot on.

It was a socialist paradise. Everyone working together in harmony and equally sharing in the labor. But then disaster struck. Disaster in the form of seven-year-old Timmy Gunderson. …he shook his older sister’s ant farm as if trying to reset an Etch A Sketch. Until then, the ant farm had been a model of true socialism. No markets. No capitalists growing rich off the labor of others. Just everyone sharing in the noble work of digging tunnels and harvesting the seeds and sugar water provided daily by eleven-year-old Molly Gunderson. …“The right might seize on the collapse of yet another socialist society,” said professor Clinton Morris. “But it’s important to note that what happened was not a failure of socialism. What caused its failure were outside forces, namely little Timmy.” …measures have been taken to prevent the same disaster from happening again, namely placing the ant farm high up on a bookshelf. Perhaps this time socialism’s promise of a perfect society will be fulfilled.

But maybe socialist society won’t be so perfect for Fido and Rover.

I’ll close with another item that showed up in my inbox.

Given what’s happening in Venezuela, we probably shouldn’t laugh.

P.S. To make my life simpler (adding a long collection of hyperlinks is a pain in the butt), I’ve created a special page for all of my socialism and communism humor.

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When Crazy Bernie became a national political phenomenon back in 2015, I pointed out that the Vermont Senator isn’t actually a socialist.

As I remarked in this brief interview with Melissa Francis, the technical definition of socialism involves government ownership and control over the “means of production.” In other words, policies such as collective farms and government factories.

It’s possible that Bernie Sanders secretly supports those policies, but his public positions are conventional statism – i.e., lots of redistribution, cronyism, and intervention.

Those policies are destructive and harmful, to be sure. Just think about basket-case economies such as Greece and Venezuela.

But not all left-wing economic policies are socialism. Which was the point I made two years ago when I put together this diagram.

As you can see, I think Sen. Sanders belongs on the far left, but he represents a different strand of statism. At least when compared to conventional socialists or totalitarian socialists.

And I categorize the Nordic nations as “rational leftists” to provide a benchmark (even though those countries are very pro-market by global standards, thanks to their laissez-faire approaches to trade, regulation, etc).

I”ll close by acknowledging that language does evolve. So perhaps I’m being pedantic by drawing a distinction between ordinary Bernie-style leftism and socialism. After all, I doubt 57 percent of Democrats and 16 percent of Republicans actually favor collective farms and government-run companies (at least I hope not).

P.S. Modern leftists don’t want to end private ownership, but they do want the government to control the economy. That approach was given a test last century.

P.P.S. For examples of socialism humor, click here, here, herehereherehere, hereherehereherehere, hereherehere, here and here.

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Move over, Crazy Bernie, you’re no longer the left’s heartthrob. You’ve been replaced by Alexandria Ocasio-Cortez, an out-of-the-closet socialist from New York City who will enter Congress next January after beating a member of the Democratic leadership.

Referring to the boomlet she’s created, I’ve already written about why young people are deluded if they think bigger government is the answer, and I also pointed out that Norway is hardly a role model for “Democratic socialism.”

And in this brief snippet, I also pointed out she’s wrong to think that you can reduce corporate cronyism by giving government even more power over the economy.

But there’s a much bigger, more important, point to make.

Ms. Ocasio-Cortez wants a radical expansion in the size of the federal government. But, as noted in the Washington Examiner, she has no idea how to pay for it.

Consider…how she responded this week when she was asked on “The Daily Show” to explain how she intends to pay for her Democratic Socialism-friendly policies, including her Medicare for All agenda. “If people pay their fair share,” Ocasio-Cortez responded, “if corporations paid — if we reverse the tax bill, raised our corporate tax rate to 28 percent … if we do those two things and also close some of those loopholes, that’s $2 trillion right there. That’s $2 trillion in ten years.” She should probably confer with Democratic Socialist-in-arms Sen. Bernie Sanders, I-Vt., whose most optimistic projections ($1.38 trillion per year) place the cost of Medicare for All at roughly $14 trillion over a ten-year period. Two trillion in ten years obviously puts Ocasio-Cortez a long way away from realistically financing a Medicare for All program, which is why she also proposes carbon taxes. How much she expects to raise from this tax she didn’t say.

To be fair, Bernie Sanders also didn’t have a good answer when asked how he would pay for all the handouts he advocated.

To help her out, some folks on the left have suggested alternative ways of answering the question about financing.

I used to play basketball with Chris Hayes of MSNBC. He’s a very good player (far better than me, though that’s a low bar to clear), but I don’t think he scores many points with this answer.

Indeed, Professor Glenn Reynolds of the University of Tennessee Law School required only seven words to point out the essential flaw in Hayes’ approach.

Simply stated, there’s no guarantee that a rich country will always stay rich.

I wrote earlier this month about the importance of long-run economic growth and pointed out that the United States would be almost as poor as Mexico today if growth was just one-percentage point less every year starting in 1895.

That was just a hypothetical exercise.

There are some very sobering real-world examples. For instance, Nima Sanandaji pointed out this his country of Sweden used to be the world’s 4th-richest nation. But it has slipped in the rankings ever since the welfare state was imposed.

Venezuela is another case study, as Glenn Reynolds noted.

Indeed, according to NationMaster, it was the world’s 4th-richest country, based on per-capita GDP, in 1950.

For what it’s worth, I’m not familiar with this source, so I’m not sure I trust the numbers. Or maybe Venezuela ranked artificially high because of oil production.

But even if one uses the Maddison database, Venezuela was ranked about #30 in 1950, which is still impressive.

Today, of course, Venezuela is ranked much lower. Decades of bad policy have led to decades of sub-par economic performance. And as Venezuela stagnated, other nations become richer.

So Glenn’s point hits the nail on the head. A relatively rich nation became a relatively poor nation. Why? Because it adopted the statist policies favored by Bernie Sanders and Alexandria Ocasio-Cortez.

I want to conclude, though, with an even better example.

More than seven years ago, I pointed out that Argentina used to be one of the world’s richest nations, ranking as high as #10 in the 1930s and 1940s (see chart to right).

Sadly, decades of Peronist policies exacted a heavy toll, which dropped Argentina to about #45 in 2008.

Well, I just checked the latest Maddison numbers and Argentina is now down to #62. I was too lazy to re-crunch all the numbers, so you’ll have to be satisfied with modifications to my 2011 chart.

The reverse is true as well. There are many nations that used to be poor, but now are rich thanks to the right kind of policies.

The bottom line is that no country is destined to be rich and no country is doomed to poverty. It’s simply a question of whether they follow the right recipe for growth and prosperity.

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Earlier this year, I explained why Nordic nations are not socialist. Or, to be more precise, I wrote that if they are socialist, then so is the United States.

And my slam-dunk evidence was this chart from the Fraser Institute’s Economic Freedom of the World., which shows that there is almost no difference in overall economic liberty when comparing the United States with Finland, Norway, Sweden, and Denmark.

This doesn’t mean, incidentally, that we have identical policies. I pointed out that the United States gets a better (less worse) score on fiscal policy, but also reiterated that Nordic nations are more market oriented than America when looking at other variables (especially rule of law).

The net effect, though, is that we wind up with near-identical scores.

I’m rehashing this old data because there’s a column in The Week that celebrates Norway as an example of “democratic socialism.”

The spectacular upset victory of Alexandria Ocasio-Cortez in her recent New York congressional primary election has catapulted the topic of democratic socialism to the top of America’s political discussion. …we have a country that very closely approximates the democratic socialist ideal. It’s a place that is…considerably more successful than the United States on virtually every social metric one can name. I’m talking about Norway. …Norwegian workers are heavily protected, with 70 percent of workers covered by union contracts, and over a third directly employed by the government. The Norwegian state operates a gigantic sovereign wealth fund, and its financial assets total 331 percent of its GDP… Meanwhile, its state-owned enterprises are worth 87 percent of GDP. Of all the domestic wealth in Norway, the government owns 59 percent, and fully three-quarters of the non-home wealth.

I don’t know if those specific statistics are true, but I certainly don’t disagree with the assertion that Norway has a large public sector.

But here are a couple of passages that don’t pass the laugh test.

Norway is unquestionably more socialist than Venezuela… Indeed, it is considerably more socialist than supposedly-communist China.

This is absurdly inaccurate. If there was a thermonuclear version of wrong, you would be seeing a giant mushroom cloud.

Here’s the data on overall economic freedom for Norway, Venezuela, and China. As you can see, Norway is far more market oriented.

So how does the author, Ryan Cooper, rationalize his fantastical assertion of Norwegian super-socialism?

If you read the article, he has a tortured definition of democratic socialism. One of his variables is government ownership, which normally would be a reasonable piece of data to include.

But it’s an artificial number when looking at Norway since the government controls the nation’s oil and also has a big sovereign wealth fund that was financed by oil revenue.

In other words, Norway is geographically lucky because all that oil boosts Norwegian GDP. It makes Norwegians relatively prosperous. And it definitely helps partially offset the economic damage of big government.

But it’s nonsensical to argue that oil-rich Norway somehow provides evidence for overall notion of democratic socialism. It’s sort of like looking at data for Kuwait and asserting that the best economic system is a hereditary sheikdom.

Yet he wants people to support socialism simply because of Norway, as illustrated by this final excerpt.

…when it comes to building a decent place to live, Norway is completely blowing America out of the water. So while conservatives have been pointedly ignoring the most obvious and relevant piece of evidence in their spittle-flecked tirades against socialism, Norwegians can and do point to the United States as an example of what happens when you let capitalism run wild.

But there’s one itsy-bitsy, teeny-weeny problem. As you can see from the chart, Norway and the United States have almost identical levels of economic liberty.

So if America is “capitalism run wild,” then so is Norway. Or if Norway is “socialism,” then so is the United States.

The bottom line is that both the United States and Norway are admirable nations by global standards. We both rank in the top-20 percent for overall economic freedom.

But we’re not Hong Kong or Singapore, so we both obviously should do a better job of following the recipe for greater prosperity.

For additional information about what’s good and bad about Norway and other countries in the region, I recommend these columns from January 2015 and June 2015.

For additional information about why socialism is bad (both democratic and totalitarian versions), just open your eyes and look at world evidence. Or you can also peruse these columns from June 2017 and August 2017.

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In 2016, I posed a rhetorical question about whether young people are so stupid that they shouldn’t be allowed to vote. After all, many of them thought Bernie Sanders would make a good president (of America, not Greece or Venezuela).

Well, maybe we really should increase the voting age. It seems 2016 was not an anomaly. Millennials are dangerously ignorant.

Here’s some analysis from CNN.

Millennials are…bringing a distinctly Millennial approach to policy and governing. And that might include Democratic socialism. Case in point: Alexandria Ocasio-Cortez, the 28-year-old Democratic socialist who won her primary in New York Tuesday in an upset over a 10-term incumbent. More than any other generation before them, Millennials are OK with socialism. A 2016 Gallup poll found 55% of those then aged 18-29 said they had a positive view of it (it’s worth noting 57% supported capitalism and 78% supported free enterprise). …Bernie Sanders’ presidential campaign was instrumental in mainstreaming Democratic socialism.

What’s particularly galling is that young people are pessimistic about their economic future and they’ve decided to blame capitalism for problems that exist because of excessive government!

Millennials’ economic situation also plays a role. …A recent study by the Federal Reserve Bank of St. Louis found Millennials born in the ’80s have a net worth 34% below what was expected. And student debt since 2009 has doubled to $1.4 trillion… For many cash-strapped Millennials in debt, Democratic socialism isn’t radical, it’s a way to fix a system they believe failed them.

In other words, young people want to make Mitchell’s Law a never-ending reality.

Let’s look at another example. Here’s some of what Michelle Goldberg wrote in a fawning column in the New York Times.

…all over the nation, people, particularly women, are working with near supernatural energy to rebuild democracy from the ground up… For younger people who see Donald Trump’s election as the apotheosis of a rotten political and economic system, it often means trying to remake that party as a vehicle for democratic socialism. …Alexandria Ocasio-Cortez, a 28-year-old democratic socialist, shook the Democratic Party by toppling Joseph Crowley, a 19-year incumbent, chairman of the Queens County Democratic Party and potential heir to House minority leader Nancy Pelosi. …the real red wave may be democratic socialism’s growing political influence, especially among young people. …The D.S.A., to which Ocasio-Cortez belongs, is the largest socialist organization in America. Its growth has exploded since the 2016 election… Many of the D.S.A.’s goals, reflected in Ocasio-Cortez’s platform, are indistinguishable from those of progressive democrats. But if the D.S.A. is happy to work alongside liberals, its members are generally serious about the “socialist” part of democratic socialist. Its constitution envisions “a humane social order based on popular control of resources and production, economic planning, equitable distribution, feminism, racial equality and non-oppressive relationships.”

In other words, these cranks are real socialists. They actually want government to own and manage the means of production (“popular control of resources and production” and “economic planning”).

This is a problem for the non-crazy left.

Talk of popular control of the means of production is anathema to many older Democrats, even very liberal ones. …After Ocasio-Cortez’s win, Pelosi denied Republican claims that socialism is ascendant in the Democratic Party. It’s hard to blame her for being defensive, since for generations “socialist” was considered a slur, and it’s one that’s hurled at Democrats indiscriminately.

But young people seem prone to fantasy.

…one recent survey shows that 61 percent of Democrats between 18 and 34 view socialism positively. The combination of the Great Recession, the rising cost of education, the unreliability of health insurance and the growing precariousness of the workplace has left young people with gnawing material insecurity. They have no memory of the widespread failure of Communism, but the failures of capitalism are all around them.

Needless to say, Ms. Goldberg doesn’t list the “failures of capitalism,” but it’s a very safe bet that she’s blaming free markets for problems caused by government (a common theme in US economic history).

No wonder young people are so deeply confused. This is probably what they’re taught in government schools.

But there is a silver lining. Courtesy of Libertarian Reddit, we can enjoy some humor poking fun at Ms. Ocasio-Cortez’s overly earnest form of socialism.

Amusing, but very unfair to religion. After all, we can’t go back in time to confirm details from the bible.

But we can look today at countries like Cuba, Greece, Venezuela, and North Korea to confirm the utter insanity of supporting any type of socialism.

Let’s close with a video from 2013. It’s about Obamanomics and young people, but it’s really about why big government makes it hard for young people to get ahead.

I especially like the explanation of how young people are big losers because of the entitlement state.

Makes me wonder if Ms. Ocasio-Cortez will take the lead on, say, Social Security reform when she gets to Congress?

Needless to say, I won’t be holding my breath.

P.S. Young people aren’t a (totally) lost cause. They may not like capitalism, perhaps because they confuse it with cronyism, but they are sympathetic to “free enterprise.”

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I’m a big believer that some images do a great job of capturing an issue.

Speaking of socialism, let’s look at some more images that reveal the essence of that bankrupt ideology.

Here’s a cartoon from Libertarian Reddit that does a great job of showing the real difference between capitalism and socialism.

Perfectly stated. Reminds me of the insights offered by Thatcher and Churchill.

Sadly, if you provide the statists with real-world evidence, many of them still prefer the world in top-right frame rather than the bottom-right frame.

Heck, the IMF actually publishes studies supporting equal levels of poverty.

As you might suspect, there are plenty of socialists who enjoy the benefits of capitalism while urging statism for everyone else. Think, for instance, about all the leftists who use tax havens.

Or this hipster millennial.

Maybe he could have a ménage à trois with Pajama Boy and Julia? Though only if everyone is guaranteed equal levels of disappointment.

Next is a helpful reminder from Bernie Sanders about the very thin line between socialism and communism.

Though I’m not sure there’s a meaningful difference.

Last but not least, this gem from Libertarian Reddit appealed to my juvenile sense of humor.

Basically the same message you find in the last item in this collection of socialism humor.

P.S. Here’s my two-part series (here and here) on the bizarre allure of socialism.

P.P.S. For additional examples of socialism humor, click here, here, here, here, and here.

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