Just a few somewhat tongue-in-cheek thoughts brought on by the recent mayoral election in New York City.
Lemmings don’t actually commit mass suicide, so why is it so easy to convince people to do it? Is the siren song of “free stuff” so overpowering that it makes us dumber than lemmings?
Any honest scholar can tell you that Marx was kind of a hack. The labor theory of value was dying while he was writing, and he took it hook, line, and sinker without even acknowledging that Smith and his contemporaries knew something was seriously wrong with it.
Mises wrote his “Economic Calculation in the Socialist Commonwealth” all the way back in 1920.
Economists have dug deeply into how entrepreneurship works, and even the best arguments that socialists make typically ignore the vital importance of the entrepreneur.
Show script here.
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Image Credits:
…both courtesy Unsplash.