Showing posts from May, 2012

The end of socialism

Socialism in its present form began as an intellectual fad in the nineteenth century, was tried in various countries in the twentieth and faces its final collapse in the twenty-first. Its end result is never a thriving economy or a good life for the people. In the last century it led to many millions of deaths. Currently the news is filled with the precarious health of Europe's 'socialism lite' schemes, which have led to unsupportable debts. In the U.S., Obama and his Democrat allies are pushing us down the same precipitous path. This cannot end well. At best, the West is facing a period of financial correction that will put an end to public confidence in socialists of all stripes. At worst...well, let us hope it does not come to that. Socialism is never sustainable because when you say 'to each according to his needs' everyone has needs, and when you say 'from each according to his abilities,' people's abilities flag. When you say 'to each acco

The French Mistake

The French people have spoken. They did not say what they intended, but said something that came out as an embarrassment. They are now living in that entertaining moment of having misspoken but not yet realized it. Everyone is snickering at them and they don't know why. What they have said, of course, is that they reject government austerity drives and approve of the burden imposed on the economy by public spending. They have elected a president who thinks government spending is a good thing and France needs to do more of it. The new president  doesn't like bankers  and wants to raise taxes on corporations and the rich. The new French president is borrowing a page from Obama's playbook in promising to soak the rich. The trouble with that plan, there or here, is that there are never enough rich people. You could beggar them all and not have enough money to run the country. At the same time, money taken from those who have it is money that will not be invested in produ