The Case Against Socialism

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The Case Against Socialism

By Rand Paul (2019)

This is a book about why socialism doesn't work, told through a very contemporary American political, and perhaps not a 100% honest,  lense.  

Socialism sucks at economics. It has been tested over and over again and has always failed. Always with catastrophic levels of human suffering. It's estimated that about 100 million people were killed by socialist regimes, by famines, in camps or by execution, during the 20th century. 

And still, for some reason people think it a good idea. What a mind fuck. 

I was hoping that this book would be more of a scientific case against socialism than an emotional. I don't see how the case against socialism can be won with sob stories, the free market economy wins because it works. Empirical works in the real world for real people. 

For example, it would be interesting with a run-through of why the Chinese economy works now and why it didn't before. How free is the market? What kind of taxes do they have, how much autonomy do people have in careers, starting businesses and investing? 

I need the "Free markets'-manual, with hands-on tangible DIY socialism debunking tips and strategies for you to use when discussing with friends and family. 

Socialism vs. communism  

So what s the difference between socialism and communism? It would have been good if Mr Paul would have taken the time to elaborate on this and not just lumping them together. Lots of the example he talks about in the book are from communist states. 
Back to the difference, between socialism and communism. I found this definition on ThoughtCo.com

"In both communism and socialism, the people own the factors of economic production. The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); by contrast, under socialism, all citizens share equally in all economic resources as allocated by a democratically-elected government." 

So basically socialism is communism light, where citizens are allowed to own stuff and make more money based on contribution to society. 


Capitalism vs. free markets 

I definitely have a softer for the free markets then capitalism. But aren't they just two words for the same thing?

"A capitalist system and a free market system are both economic environments that are based on the law of supply and demand." - From Investopedia.com


So basically a free markets system works because everyone has skin in the game, you're in charge of your own life and it's your duty and responsibility to make the most of it.


I suspect that any system that blocks out the feedback of the outcome from your toil will be deeply uninspiring from a behavioural perspective. Just see Drive from Daniel Pink.

Cost-book-benefit analysis

As far as I know, the book might couple of good points but if you refer to the 1973 Chilean coup d'état as "Chiles flirt with socialism ending in 1973" its hard to know what else might be spun into propaganda rather then a fair and balanced representation of ideas and events.

Buy
Borrow
->  Burn 


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"The case against socialism" gaps

Questions about language and human nature the needs further investigations 
  • Market economy 
  • The Austrians
  • Property rights 
  • Human nature 
  • Human rights 
  • Compound interest
  • Individualism 
  • Humanism

Albert Einstein famously said that compound interest is the most powerful force in the universe. He said, “Compound interest is the 8th wonder of the world. He who understands it, earns it; he who doesn't, pays it.” Read more 



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