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The Problem with Socialism Kindle Edition
"It is a worthwhile investment for parents with college-age children to buy two copies of The Problem with Socialism -one for their children and one for themselves." —WALTER E. WILLIAMS, John M Olin Distinguished Professor of Economics, George Mason University and nationally syndicated columnist
"Ever wonder what one book you should give a young person to make sure he doesn't fall for leftist propoganda? You're looking at it." —THOMAS E. WOODS, JR., host of The Tom Woods Show, author of the New York Times bestseller The Politically Incorrect Guide to American History
What’s the Problem with Socialism?
Let’s start with...everything.
So says bestselling author and professor of economics Thomas J. DiLorenzo, who sets the record straight in this concise and lively primer on an economic theory that’s gaining popularity—with help from Elizabeth Warren and Bernie Sanders—despite its universal failure as an economic model and its truly horrific record on human rights.
In sixteen eye-opening chapters, DiLorenzo reveals how socialism inevitably makes inequality worse, why socialism was behind the worst government-sponsored mass murders in history, the myth of “successful” Scandinavian socialism; how socialism is worse—far worse—for the environment than capitalism, and more.
As DiLorenzo shows, and history proves, socialism is the answer only if you want increasing unemployment and poverty, stifling bureaucracy if not outright political tyranny, catastrophic environmental pollution, rotten schools, and so many social ills that it takes a book like this to cover just the big ones.
Provocative, timely, essential reading, Thomas J. DiLorenzo’s The Problem with Socialism is an instant classic comparable to Henry Hazlitt’s Economics in One Lesson.'
In the words of Thomas E. Woods - "Dance on socialism's grave by reading this book."
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LanguageEnglish
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PublisherRegnery
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Publication dateJuly 18, 2016
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File size1622 KB
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Editorial Reviews
Review
-- Former Congressman Ron Paul
"With so many universities having been turned into socialist indoctrination academies, it is a worthwhile investment for parents with college-age children to buy two copies of The Problem With Socialism--one for their children and one for themselves."
-- Walter E. Williams, John M. Olin Distinguished Professor of Economics, George Mason University and nationally syndicated columnist
"Utterly faithful to the first principles of von Mises and Hayek, and consistent with his myth-busting works on Lincoln and Hamilton, Professor Thomas DiLorenzo has given us another fearless masterpiece. In The Problem With Socialism, he skillfully dissects the intellectual bankruptcy and false reality that have been the earmarks of the systemic legalized theft that socialism became wherever it was tried. We already know that rather than freedom, prosperity, and hope, socialism brought chains, misery, and despair. Now we have that history clearly documented in this powerful, unassailable, and readable book which should be mandatory reading wherever Economics 101 is taught."
-- Hon. Andrew P. Napolitano, Senior Judicial Analyst, Fox News Channel, and Distinguished Visiting Professor of Law, Brooklyn Law School
"Ever wonder what one book you should give a young person to make sure he doesn't fall for leftist propaganda? You're looking at it. Tom DiLorenzo smashes socialism in theory and in practice, and in all its poverty- inducing forms. Guaranteed those college socialists don't know any of this material--at most American universities, who on earth would have taught it to them? Dance on socialism's grave by reading this book."
-- Thomas E. Woods Jr., host of The Tom Woods Show, and author of the New York Times bestseller The Politically Incorrect Guide(R) to American History
About the Author
Product details
- ASIN : B01H0826B0
- Publisher : Regnery (July 18, 2016)
- Publication date : July 18, 2016
- Language : English
- File size : 1622 KB
- Text-to-Speech : Enabled
- Screen Reader : Supported
- Enhanced typesetting : Enabled
- X-Ray : Enabled
- Word Wise : Enabled
- Sticky notes : On Kindle Scribe
- Print length : 227 pages
- Best Sellers Rank: #859,495 in Kindle Store (See Top 100 in Kindle Store)
- #487 in Communism & Socialism (Kindle Store)
- #1,369 in Political History (Kindle Store)
- #1,419 in Federal Government
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When I learned that Tom DiLorenzo had written a new book titled THE PROBLEM WITH SOCIALISM, for release on July 18, 2016 I pre-ordered a copy on Amazon. Sure enough, on Monday morning July 18 UPS delivered it to my door. I read it at once.
In this relatively short book, in a clear, engaging, and concise fashion, Professor DiLorenzo explains what socialism is and why it doesn’t ever work.
One quickly sees that he has put the same care into writing THE PROBLEM WITH SOCIALISM as he has done with his other, longer books, notably THE REAL LINCOLN, HAMILTON'S CURSE, LINCOLN UNMASKED, and HOW CAPITALISM SAVED AMERICA.
At 192 pages in a 4-by-7-inch (hardback) format, THE PROBLEM WITH SOCIALISM is a quick read. A narrator spends 3 hours and 51 minutes reading the book aloud, unabridged, on audible.com. (It is available also on Kindle).
DiLorenzo begins by showing why socialism poisons economic growth and prosperity and why it always and everywhere turns into an economic disaster. Three problems plague socialism, he writes: incentive, knowledge, and economic calculation problems. Key among them is an enforced lack of market prices, making it impossible to craft rational economic decisions.
He dispels a number of socialist myths and superstitions about capitalism. These include the capitalist myths of “subsistence wages,” the “abusive factory,” “robber barons,” “predatory pricing,” and the “Capitalism-Causes-War” myth. Free market capitalism is about trade. “It is about the free exchange of goods and ideas, which encourages peace and mutual understanding.” Free market capitalism keeps wars at bay. It prevents war, not cause them.
On the back side of the book’s dust jacket, Tom Woods writes: “Ever wonder what one book you should give a young person to make sure he doesn’t fall for leftist propaganda? You’re looking at it…. Dance on socialism’s grave by reading this book.” [italics his]
To answer our son’s assertion on Sweden, DiLorenzo shows, in Chapter 7, that Sweden doing well is not a result of its having adopted socialism. He writes, “The real source of Sweden’s relatively high standard of living has nothing to do with socialism and everything to do with Sweden avoiding both world wars and jumping into the industrial revolution when its economy was one of the freest, least regulated, and least taxed in Europe.”
Current-day Swedes are living off the hard work, investments, and entrepreneurship of previous generations. But it won’t last. They are running out of other people’s money. Sweden is now “poorer than Mississippi, the lowest income state in the United States,” and it has begun “privatizing portions of its socialized healthcare, social security, and education sectors.”
A promotional statement on an inner leaf of the book’s dust jacket reads: “Provocative, timely, essential reading, Thomas J. DiLorenzo’s THE PROBLEM WITH SOCIALISM is an instant classic comparable to Henry Hazlitt’s ECONOMICS IN ONE LESSON.”
I agree. THE PROBLEM WITH SOCIALISM will stand alongside Hazlitt’s classic 1946 introduction to free market economics. (ECONOMICS IN ONE LESSON is a touch longer, 6 hours and 56 minutes on audible.com.) The two books complement each other. Together they show in a readable and easily understood and essential way why free market (Austrian) economics works and why socialism always fails, no matter who may happen to run it.
Tom Woods conducts an engaging interview with Tom DiLorenzo on his Tom Woods Show the day the book was released. It is Ep. 696 “The Problem with Socialism: Tom DiLorenzo Educates Socialist Millennials.” That he does! You might enjoy listening to this 26-minute interview. Google it.
Some 85 million Americans are Millennials, whose birth years 1982-2004 make them part of the Millennial Generation. This generation of Americans was not yet born, or too young to have witnessed the collapse of the Union of Soviet Socialist Republics (USSR) in 1991, which for adult Americans living then and seeing this thoroughly discredited socialism. One thing that stimulated him to tackle and write THE PROBLEM WITH SOCIALISM Tom DiLorenzo says, was seeing an opinion poll which showed that 59 percent of Millennial Generation folks polled think it is OKAY, even a good idea to have a socialist as president.
We all should read this book. People in the Millennial Generation, however, Americans now age 16-34 especially need to read THE PROBLEM WITH SOCIALISM before they wind up finding themselves living in a world that has become like Venezuela.
I have a few quibbles, though. While his critique of health care socialism was solid, it would have been really valuable if he had discussed how elements of socialism have undermined the U.S. system. This is important since so many are dissatisfied with the U.S. system and think that (whatever their faults) the other Western systems are better than the U.S. approach. While he mentioned that Medicare and Medicaid are socialist and that the system is "heavily regulated", he also made comments which implied that our system was more market-oriented, which is largely untrue. For example, on page 101, he states (approvingly) "On a per capita basis, the United States has more than three times as many MRI units as Canada does ..." Now it is possible that this represents a better allocation of resources, but that conclusion is hardly assured. It could well be that we have far more MRI units than we would if we had a free market in health care. True, we don't have much in the way of outright shortages in the U.S., though that is a consequence of having a "system" (for lack of a better word) which essentially writes a blank check for medical expenses, rather than one which allows market forces to operate.
Another quibble is that, during his defense of the so-called Robber Barons, DiLorenzo credits Rockefeller as a "major philanthropist" (page 181). While this is true on its face, one has to wonder how much good his (and other wealthy industrialist's) giving did for the U.S. As an example, Rockefeller gave a lot of money to medical schools and, in the process, helped to cartelize medical education and practice in the early 20th century into the allopathic system that we have today, via the licensing regime that took hold at the time, which greatly benefited his investments in the pharmaceutical industry. So this "charitable giving" was really more of a facade for self-interested investment and the fastening of a system of medical fascism on the U.S. (the medical system in the 19th century U.S. was pretty close to a free market).
Finally, in his critique of the government schools (page 174), DiLorenzo suggests that schools in affluent areas perform better because of the threat that parents can afford to pull their kids out and send them to private schools if they did not perform well. There may well be some truth to this, but I have to wonder if the kids attending these schools are, on average, smarter and better raised by these affluent parents, than the kids attending school in less affluent areas.
Perhaps DiLorenzo will consider these criticisms if he decides to create a 2nd edition at some future date. Still, I found this book to be a very valuable resource and would highly recommend it to both those who are new to the topic and those who have had previous exposure to some of these topics.
Top reviews from other countries
Top notch.
Pierre Cliche
Dilorenzo has encapsulated the works of Bastiat, Heyek, Rothbard and modern libertarian politicians like Ron Paul (who, I hasten to add, the yanks should have voted for in 2012). The reality is that most socialists hate the injustice of poverty and inequality. They would never countenance the true philosophy of Marx or Stalin, let alone the consequences of such philosophies.
This book, as short as it is, presents the reality of socialist governments; from poor healthcare, pollution, unemployment and genocide, the historical facts speak for themselves.
Not a large treatise, but a great one.