Links from around the ‘net.
Anyone getting the impression that perhaps the people teaching our young minds full of mush are making it up as they go along? This from a Meagan McArdle tweet: (h/t Instapundit)
Wrote a column on Venezuela and socialism [Venezuela’s Inflation Rate To Hit 1,000,000 Percent. Thanks, socialism]. Being assailed by people who say that I obviously have no idea what socialism is, since socialism doesn’t involve state control of the economy.
Venezuelan money is now worth less than the paper on which it is printed. Note the top-rated comment at Wapo with 243 likes:
Venezuela is not suffering from socialism. It is suffering from a corrupt, incompetent, protectionist, centrally planned, kleptocratic, undemocratic, repressive regime.
I get the felling that you really don’t know what “socialism” means, but you like to throw it out there to get the MAGA crowd (who also don’t know what it means) riled up. Maybe you should read a good economics text some day.
As always, it is not that socialism is a failure, it is just that centrally planned economics have never been properly applied. Oh, and giving government such extensive power so that they can implement socialism at the end of a gun has nothing to do with all the rest of those things, like repressive, corrupt, incompetent, etc. Note also that, for some reason, imposing socialism almost always requires disarming the populace first. My question, who erased the 20th century in all of our colleges’ history and economics books?
The commenters seem a product of our finest educational institutions in the economic field. That said, at least Coleman Hughes seems to be paying attention in his courses that involve economics and the racial wealth gap.