The divisions in this election are deep and widening across the country. When I called this “an age of rage” years ago, I noted that the rage historically tends to burn off in time. We are clearly still at the flow rather than the ebb stage as rage politics continues. However, the most worrisome elements of this period are fundamental changes being demanded to our constitutional and economic systems. A new poll by The Economist/YouGov is consistent with other polls showing rising support among Democrats for socialism. More Democrats (38%) prefer socialism to capitalism (25%). Other polls show 60% had a favorable view of socialism and only 32% had favorable views of capitalism.
Capitalism is still favored by 79% of Republicans in comparison to only 5% favoring socialism. The poll of independents showed 44% favored capitalism, with only 21% favoring socialism.
As I wrote in Rage and the Republic, the success of this Republic was a mix of Enlightenment and free-market principles. It was the combination of economic and political liberty that produced the most successful republic in history. This is the 250th anniversary not just of our Revolution but of the release of Adam Smith’s Wealth of Nations.
The founders knew that true individual liberty could not be achieved without economic freedom. Smith’s idea of the “invisible hand” offered an idea of individual economic freedom where the individual tastes and choices of citizens drove whole economies.
As I write in Rage and the Republic:
“While he never visited the United States, his theories seemed quintessentially American to many of his generation. For a revolution that was triggered by tariffs and fueled by events like the Boston Tea Party, Smith’s general principles read like an economic version of Common Sense. It was a type of declaration of independence not just from the British policy of mercantilism (emphasizing British exports over imports) but from economic controls over individual productivity and self-determination….
In summary, Smith was first and foremost viewed as a political theorist, and his economic theories were closely tied to his views on the natural liberties of humanity. He saw capitalism as a liberating system that gave individuals the wealth and resources to pursue their chosen paths. Conversely, he saw government controls and subsidies as forms of control and potentially forms of suppression of the human will. If people are to be truly free, they must have the resources to pursue that freedom. The government dole can become a type of servitude or at least a subterfuge for citizens. If they are dependent on the government, they are never truly free.”
I believe the key to our surviving and thriving in the 21st Century will be preserving what I call a “liberty-enhancing economy.”
The rise of the Democratic Socialist Party has fueled the trend away from capitalism with calls “to dismantle the capitalist state.”. Many of the rising candidates have spent years working the anti-capitalist movement. For example, Senate Democrat nominee James Talarico appeared intent on bringing a touch of Trotsky to Texas. In a video from a climate forum, Talarico is shown declaring capitalism an “oppressive system” linked with white supremacy and that it must be “dismantled” to achieve a better world. It is reminiscent of Leon Trotsky, who denounced the “fundamental evil of the capitalist system” and called on citizens to free themselves from its oppression.
As a state representative, Talarico addressed the 2020 climate conference with an attack on capitalism:
“I’m so thankful that you asked this question and also thankful that young activists have really drawn the link between climate change and White supremacy and capitalism in our country … And I think only ending the ways that all three of those oppressive systems work together are we gonna be able to begin the process of dismantling them.”
Talarico’s views closely parallel socialist and communist talking points online. Democratic Socialists of America has challenged people to “Imagine the end of capitalism.” Those words in the Democratic Socialists of America manifesto offer Americans a world without landlords, debt, mandatory work hours, and “food, education, energy, medicine, and transportation… are common goods and utilities.”
The DSA is premised on the same stated objective of Talarico, declaring that there has to be “a revolutionary transformation to replace the capitalist social order based on exploitation and oppression.”
Other candidates have sought to pander to this radical mob. Recently, California Gov. Gavin Newsom thrilled the mob by declaring that “nostalgia is not working,” adding that “capitalism as we know it doesn’t work either.” He also recently said that the DSA is the future of the Democratic Party.
The Framers understood that political rights mean little without economic freedom. Capitalism offered citizens the ability to transcend class and social barriers, to advance as far as their skills and labor would take them.
Together, those political and economic theories created the most prosperous and stable democratic system in the world. That system is now under attack on both sides.
“You know, when people’s voice start getting squeaky and really high pitched, usually they’re lying. And Ashley Moody knows that I’m not a socialist,” Nixon said, claiming to only join DSA because she aligns with them on “fighting for adequate public housing, as well as fighting for quality health care, as well as making sure that we are getting our veterans off the street, taking big money out of politics.”
The success of politicians like Zohran Mamdani in promising to introduce people to the “warmth of collectivism” has only worked due to a young generation with no memory of the failure of the socialist systems in the last century.
As I explain in “Rage and the Republic,” the French economy collapsed, as the British economy had earlier during the “winter of discontent” under Labour Prime Minister James Callaghan. Britain was even forced to seek a loan from the International Monetary Fund.
Both France and Britain would later reintroduce capitalist policies and roll back socialist policies to stop the economic collapse.
We also tried collectivist policies in cities across this country, including a commune on Long Island called Modern Times (now called Brentwood). It lasted about ten years before collapsing.
Yet, candidates such as Colorado’s Democrat congressional candidate Melat Kiros recently declared that there is nothing more American than socialism.
In places like New York, that message has resonated more with young college-aged voters than with blue-collar voters. Indeed, the DSA admits it has not done well at attracting actual blue-collar workers. Indeed, almost one-third of DSA members earn over $100,000.
This election is being fueled by temporary economic fluctuations in gas prices and other conditions. Those are real issues that citizens must grapple with. However, a more fundamental debate is just beginning over the economic principles that will guide this country in the future.
Jonathan Turley is a law professor and the New York Times best-selling author of “Rage and the Republic: The Unfinished Story of the American Revolution.”
OT: Texas gov race at 55% reporting Hinojosa ahead of Abbott by wide margin.
Seize the day, young folks. It’s so much better than the opposite.
I continue to have nightmares of the bleating upturned face and screaming by NEA president pringle, All the the things, alll theeee thinggggs. It’s like decoy Dan, socialism is a decoy.
ALLL THEEEE THHHINNGS!
This colloquy establishes that the United States was founded not as an absolute democracy, but as a constitutional representative republic designed to filter the popular will and protect private property through structured institutional checks. It highlights how both ancient Athens and the early United States implemented “rational” restrictions on the electorate—such as the historical 50-acre or £50 property requirements—to limit voting rights to a specific body of citizens deemed to have a permanent stake in society. Ultimately, the discussion clarifies that while a pure “one-person, one-vote” democracy relies on unconstrained majority rule, a constitutional republic explicitly binds the majority to a supreme constitution, ensuring that individual rights and structural stability are preserved against the volatility of a pure democracy.
America is unique as a representative democracy that adheres strictly to the Constitution and Bill of Rights.
Rational vote restrictions by state legislatures must be implemented per the Constitution for America to persist; voters must be producers and cannot be dependents.
It was designed to concentrate the power in wealthy male landowners.
It was designed to protect free, capable, and ambitious people from the dictatorship of the majority, the poor, and the proletariat, aka the parasites.
This finding is consistent with the previously reported finding that Democats value “equality”. Capitalism doesn’t regulate income equality, but socialism does.
“All men are created equal.”
It asserts a moral and political principle: every person has the same fundamental worth and equal natural rights (not that everyone is identical in abilities or status). Historically, it declares that political authority derives from consent and that no one is born with an inherent right to rule over others—so laws and government should treat individuals as equals before the law and protect their basic rights.
I appreciate that notion like I do Santa Claus, but I don’t believe it. Nature knows no “rights” other than survival of the fittest.
Dear Prof Turley,
Socialism is a philosophy. Capitalism, as articulated by Adam Smith, is an economic theory. .. they are not mutually exclusive.
Prosperity depends upon a functioning free-market economy. .. centrally planned economies don’t work,
Free-market economies repudiate excessive centralization on one hand, and disclaims all attempts of uniformity on the other.
*unfortunately, in the U.S. one must always choose the lesser of two evils .. .
Master and Commander – The Lesser of Two Weevils (HQ)
What the Legacy Media predicted
Hillary Clinton has a 91% chance to win →
Good morning on this, the 11th day before Election Day. National polling averages have drifted ever so slightly back toward Donald J. Trump this week, bringing Hillary Clinton’s win chances down to 91 percent from 93 percent.
Of course, in much of the country, voting has already begun. Results from The Upshot’s early vote tracker suggest that Mrs. Clinton will win North Carolina by about six percentage points, while our poll-based forecast puts her lead in the state at three points. As Election Day approaches, expect the two numbers to converge.
The New York Times
Presidential Forecast
Friday, October 28, 2016
https://www.nytimes.com/newsgraphics/2016/10/28/presidential-forecast-updates/newsletter.html
How it went:
Candidate ⋇ Popular Vote Total ⋇ % of Popular. Vote
Hillary Clinton ⋇ 65,853,514 ⋇ 48.18%
Donald J. Trump ⋇ 62,984,828 ⋇ 46.09%
https://www.fec.gov/resources/cms-content/documents/federalelections2016.pdf
Chance to win is not the same as vote ratio.
Also 11 days ahead of the 2016 election and just after the NYT made that prediction:
“On October 28, eleven days before the election, FBI Director James Comey informed Congress that the FBI was analyzing additional Clinton emails obtained during its investigation of an unrelated case. On November 6, he notified Congress that the new emails did not change the FBI’s earlier conclusion.”
A large number of Clinton supporters stayed home, fearing the Clinton would be enmeshed in an unending investigation. This turned out to be false.
The same would not be true for Trump – his supporters would turn out in even larger numbers when shown video evidence of him committing some horrific crime. He would be applauded as the criminal they felt America truly deserved. With his temper tantrum after the 2020 election and attempt to coerce the Vice President to overturn the election to his favor, his followers had proof he was the criminal America deserved and voted for him in record numbers.
Capitalism lets the rich get richer, but it doesn’t help the lower and middle classes very much.
Then move to a socialist country like Venezuela or North Korea. Things are GREAT in those places.
And if capitalism is that bad, why is the whole world trying to get into the United States?
Leftists live in a fantasy world of their own deranged minds, completely unconnected with the real world.
North Korea is a dictatorship named as democratic.
Venezuela is more complicated, but I expect the American oil and gas executives had a hand in causing their problems.
Delusional. Chavez kicked them out. Venezuela went to pot. Cuba is another failed socialist state. Get it through your thick skull that socialism always destroys the host country.
The incompetent communists did not enjoy the “manifest tenor” of the original Constitution and Bill of Rights—that is, pre-Lincoln.
The incompetent communists did not enjoy the “manifest tenor” of the original Constitution and Bill of Rights—that is, pre-Lincoln.
Sure, socialism always destroys, like it did Norway, Sweden, and Denmark. I mean, have you ever been there? Pretty great places to live if you could. I suppose socialism failed in Vietnam and China too? Too bad the commies didn’t get the memo from you blowhards
Those are NOT socialist economies, they are market economies. You idiot liberals always falsely say they’re socialist. They’re not. The PM of Denmark actually had to say so publicly because you people are so disconnected from reality. The reason they can afford high government spending is because of the money earned by private free-market economic activity.
Chavez kicked them out and they got their revenge. Same as happened to Haiti and Cuba.
Throw off the yoke of oppression and get blockaded, starved, and permanently punished. Accept the yoke and starve all but the very few – that is the model in Saudi Arabia and Kuwait and Qatar, et al.
These incompetent communists did not enjoy the “manifest tenor” of the original Constitution and Bill of Rights—that is, pre-Lincoln.
175 million jobs in America. Who do you think makes jobs, good jobs, not jobs made by Karl Marx?
AI Overview
Karl Marx did not create any traditional business or corporate jobs; he worked primarily as a philosopher, social theorist, journalist, and writer.
Of all of the nutty things I have read in the comments here over years, the notion that capitalism is not helpful to lower and middle classes may be the nuttiest. Point me to a socialist economy where lower and middle classes thrive. But more to the point, point me to an economy where people move fluidly through the various economic levels more than they do in the more capitalist countries.
China
Talarico is not a freak.
When Trump is on stage, all I see is an orange freak.
Talarico is normal compared to the freak that is Trump.
Anon=freak
When Trump is on stage, all I see is an orange freak.
That’s because you, like all Leftists, are certifiably insane.
I am a knuckle dragging right winger and I despise him now. Hearing you fools praise him here has become good sport of late, however. I am enjoying the Republican bloodbath tonight. Let the Israel bootlickers figure out how to salvage this complete mess. Launching another round of war in Iran to benefit the Zionists better not be on the table anymore, that will lead to more than impeachment.
How much wealth has Tallyfreako created? How many jobs? 90% of what he intends to do is unconstitutional.
Thou Shalt Not Covet
Thou Shalt Not Bear False Witness
Thou Shalt Not Steal
________________________
The communist parasites, from Karl Marx (i.e. sickly invalid and drunk) down, are consumed with jealousy of other people’s money; they lie to obtain other people’s money, and, therefore, they steal other people’s money by majority votes, which the Constitution and Bill of Rights preclude.
The American Founders provided freedom that is all that good people need—the one thing good people need.
The vote was restricted at the inception of democracy in Greece and the perpetuation of democracy in Rome and the United States.
The Constitution provides for the vote to be restricted by state legislatures, which have failed to understand their duty.
No viable organization allows its workforce to direct and execute its operations.
Congress may not tax for charity or favor, and Congress may regulate only the “value of money,” “commerce among nations, states, and Indian tribes,” and “land and naval Forces,” per Article 1, Section 8.
Marc Elias needs to lawyer up. Democrats are already circling their wagons to defend him and cast aspersions on the DOJ.
The Wall Street Journal
@WSJ
The Justice Department has sent letters to more than a dozen people telling them they might be targets in its criminal investigation into the potential manipulation of the Alaska Senate race, including top Democratic lawyer Marc Elias
https://x.com/WSJ/status/2117719163175068009
==
In other news, “I voted for the first time in my life a straight Republican ticket” is trending on Twitter/X, comments made by self-proclaimed die-hard Democrats: blacks, hispanics and the alphabet people (LGBTQ) etc
Adam B. Coleman, Proud Father & Imperfect Man
@wrong_speak
Well, I did the thing you’re not supposed to do.
I voted down ballot Republican while being black in New Jersey.
I had no choice because I’m not voting for progressives and commies and no amount of racial expectation can get me to vote for open border politicians.
https://x.com/wrong_speak/status/2117597216122585263
As with most all polls, the fundamental flaw with the one conducted by Economist/YouGov is the uncomplicated and superficial question it asks. “Which is the better economic system?” offers no assurance that respondents sufficiently understand the subject matter. It is encouraging that the 38% of democrats who responded “Not sure” effectually allowed for their lack of adequate knowledge, but can anyone be as sure about the other 38% who may think they know what socialism is and/or how it can be made different from what it has historically been?
Once we are through the current “affordability” turmoil and have been given to greater experience that government supervision of our lives is no panacea, present day would-be socialists will rediscover that income inequality is not a bugaboo but rather a result essential to the welfare and prosperity of the whole of our human condition.
Actually, the fundamental flaw in all polls is that the average person is pretty stupid.
As George Carlin famously said, “Think of how stupid the average person is, and realize half of them are stupider than that.”
By definition, 50% of people are below average intelligence. And MAGA morons are even lower than that.
Ron, agreed that as you point out most polls have the flaws that you find in this one. They are not designed to allow respondents to engage in debates over nuances. They can only measure in broad strokes. So, what does any given respondent think of when the terms capitalism and socialism are offered as alternatives? Who knows? But as a broad spectrum the notion that a substantial minority of Americans think favorably of socialism would have been unheard of 10 to 20 years ago. That change in sentiment matters and portends a bleak future if the trend continues.
S@@libs, I need help from my moral bettors with this one! A common refrain when socialists are confronted with the past shortcomings of their system is “well the right people weren’t running it.” What makes today’s DSA folks believe they will be any better?
Calling me a ‘racist’ or ‘nazi’ for having doubts about the upcoming socialist paradise is not a reply.
antonio
It is becoming increasingly clear, that a Civil War between the Constitutional Republic v. Communist Republic is in the foreseeable future!
@bcofdt13
i have resisted the idea, but I fear you may be correct. Worse, I fear it is actually what the left wants, to use for justification for their madness. We are dealing with honest to goodness insanity with the modern left. Peace is not possible in their version of reality.
I fear it is actually what the left wants, to use for justification for their madness.
James – perhaps justification, but perhaps under Marxist theory as an engine of societal improvement. Marxist theory is wrong in almost every way, but understanding it helps explain why Leftists are going mad at the present time. They see themselves as a hammer and they want to provoke a right-wing reaction to harden the anvil (the right) so the clash is more productive:
AI Overview
The use of the “hammer and anvil” metaphor within a dialectic framework is most prominently associated with Marxist-Leninist Dialectical Materialism and certain variations of Historical Dialectics.
In these philosophical and socio-political frameworks, the metaphor represents how history, society, and ideas evolve through violent confrontation or friction:
1. Dialectical Materialism (Marxism-Leninism)
In Marxist theory, the dialectic is driven by a clash of material forces—specifically, opposing economic classes (e.g., the bourgeoisie and the proletariat). [1]
See, I was thinking “freedom” vs. “enslavement,” a pretty clear choice.
The problem with America has been that the Supreme Court has failed to decide that the rights and freedoms of individuals and limitations on governmental powers were “absolute.”
Another detrimental decision was that state legislatures did not restrict voting, as permitted by the Constitution.
There may be a meeting at the Green Dragon Tavern at 2am…pass it on.
I think the law office of Judge Thomas McKissack Jones might be more appropriate.
The healthcare issue hasnt asked physicians if the agree with dem dreams. Health insurance controls medicine? The cost of insurance doesn’t have a limit.
*hasn’t * they
Contemporary “Democratic Socialism” reawakens, repackages, and reactivates 45 Communist Party [CP] Goals published in the January 10, 1963 Congressional Record. These publicized destructive goals were designed to undermine and overthrow the U.S. and remain active – serving as an influential blueprint for the present day USA chaos and turmoil.
Reading and reflecting upon the below 45 Goals will serve to assist in “making sense” of the increasing overt agitation and political unrest occurring within the USA, and other parts of the Western World over the past several decades.
Western Civilization beyond U.S. borders also remains under ongoing attacks by this Totalitarian Ideology whose applied practices are repressive, and suppress dissent. Furthermore, it is arguably important to comprehend that like “a rose by any other name is still a rose”, the essence of Totalitarianism by any other name remains Totalitarianism.
Further proof of the active infiltrating and implanting similar and variations of these 45 planned destructive goals is clearly revealed and delineated within the Democratic Socialists of America (DSA) 2026 national policy platform called “Workers Deserve More”. The DSA policy platform content is easily accessed via an online search.
Unsettlingly, combining “socialist” and “workers” in a political party’s name/policy evokes a chilling historical association: “Nazi” is a phonetic abbreviation of the National Socialist German Workers Party.
Honstly all this commie scare stuff is ridiculous. You do know that the US is a mixed economy and hasn’t been “capitalist” since the pre-FDR era? You do know that, right? Did you ever read the Manifesto? Half the talking points were adopted in the US long ago, like universal education, etc. You commie scaremongers need to do better.
The Founders understood that the greatest threat to individual liberty was not necessarily a king, monarch, or tyrant, but the unchecked power of a numerical majority. They recognized that democracy, unrestrained by constitutional limitations, could become a dictatorship of the majority, permitting the many to deprive the few of their rights, property, liberty, and the fruits of their labor.
They did not establish a government to redistribute wealth, guarantee economic equality, or subordinate individual achievement to the demands of those who had less. Nor did they regard poverty as a justification for violating the rights of others. Their objective was to establish a constitutional republic in which government was limited to its enumerated powers, individual liberty was protected from popular passions, private property was respected, and every individual remained free to pursue happiness through personal initiative, industry, and self-reliance.
The genius of their Constitution was not that it empowered the majority to rule, but that it denied any majority—the rich or the poor—the authority to rule without constitutional restraint.
Does the dictatorship of the majority equate to Marx’s communism? Not precisely, but there is a significant philosophical connection. The dictatorship of the majority and Marxist communism are not synonymous, but both can result in the subordination of individual liberty to a purported collective interest.
The singular American failure is the judicial branch, with emphasis on the Supreme Court.
Anon, you may be right.
@anon. While I appreciate your view, it may also help to consider the power of a minority to overtake democracy – as illustrated in Prof. Turley’s “Rage and the Republic”. The Montagnard (Mount) ruling the “Reign of Terror” were NOT a majority, they were an acting minority who put everyone whose business or support they required with the Guillotine.
Examples of the “Rule of Minority”.
Sadam Hussein’s Sunni party (20 of the Muslim population versus the almost 80% of the Shi’ites who lived in Iraq.
Cuba’s totalitarian rule of the Castro family
THE UNITED STATES SENATE MINORITY BLOCKING ALL HOUSE RESOLUTIONS FROM REACHING THE SENATE (even Committee) THROUGH EXERCISE OF THE MINORITY FILIBUSTER. Effectively destroying the democratic (notice no D cap) process of the US Constitution
3 “Activist” SCOTUS Associate Judges who seem not to have ever read the US Constitution, using their seat as a way to write, execute, and administrate the law of the land – preferably by doxxing the Constructionist majority associates hoping that one of their opponents deaths will lead to the packing of the court in a way that democracy can be eliminated.
Welcome to America
NOTE TO SUPREME COURT:
Communism is unconstitutional per the absolute enumerated powers and restrictions on government in Article 1, Section 8.
Communism is unconstitutional per the absolute 5th Amendment right to private property.
_________________________________________________________________________________________________
“In this sense, the theory of the Communists may be summed up in the single sentence: Abolition of private property.”
– Karl Marx, Communist Manifesto
Similarly, those wishing a Revolution in the American colonies in 1776 are generally considered to have been about 1/3 of the people. Almost by definition revolutions are conducted by a minority as those in the majority would not consider it necessary.
Yes I learned this in an essay called “Revolutionary Minorities” by Louis Beam. You been reading Louis Beam, sir? Is that the level of the readership here?
There’s always competition. Walmart is entering the amazon market in distribution.
“There’s always competition. Walmart is entering the amazon market in distribution.”
This takes the thread OT, but you might want to cite a different example. Have you tried to purchase anything from that channel through the WM web page? It is effed up beyond belief. I have some issues with Amazon, but the WM site is pure and utter garbage. Each of the four or five times I have tried it, I found an item I wanted at a price I was willing to pay, then spent 10 minutes or more jumping through their hoops to get to check out, only to have them inform me at the very last step (after I had furnished my CC and shipping information) that the item was unavailable. If the WM people that run that site were in charge of a railroad, there would be high speed head-on crashes each and every day.
Instead, the few deprive the many of their rights, property, liberty, and the fruits of their labor.
Say WHAAAAT? You mean the ‘Everything Should Be Free’ Gang is openly and proudly embracing the faux economic model of Other Peoples Money can give you anything you want in life via your All Knowing Government Politburo Masters? Wow, I guess the DSA finally kicked the hypocrites over the edge and no need to wear the mask of “democracy” any more.
When a goose lays golden eggs, there are two views:
1. The gold is limited, so let’s kill the goose, get the gold that’s inside, and redistribute it (putting aside the question of whether those in charge of the gold will follow through on their promise to redistribute the wealth).
2. Because the goose is valuable, let’s make sure the goose is protected and fed so it can keep laying those golden eggs.
Socialism opts for (1), while free market capitalism opts for (2). What socialism overlooks is that the goose keeps making the gold rather than laying eggs from a finite amount of it. That is what innovation, entrepreneurship, and capitalism are all about. The leftists commenting here, and saying the opposite, are (ironically) using sophisticated computers that came into existence through that very innovative process.
Capitalists took over: Sears; K-Mart; Toys-R-Us. They tore those geeses to pieces. The capitalists decapitate West Virginia mountains and fill the valleys with contaminated tailings. They pump poisons into the groundwater that people depend on for drinking and dump sewage into rivers, also poisoning drinking water.
There are a lot of other good things like this that capitalists have done; lead in paint and sawdust in bread.
Computers came into existence on the work done by a gay man who was chemically castrated as part of a sex-change forced on him by straight people who were ungrateful over his work to break the Nazi codes and win WWII.
Those companies went bankrupt because of bad executive decision making… which is exactly how the system is supposed to operate. They were replaced by better managed companies that were giving consumers what they want. In a socialist system they would have been propped up and continued to waste societal resources, and would have been run as efficiently as the DMV with the same customer satisfaction.
As for the environment, only capitalist countries are rich enough to worry about it. The socialist eastern bloc countries had a far worse record on the environment than western free market nations.
I guess that would be Alan Turing eh? He was a genius and computers owe much to him but it overstates the point quite a bit.
Anon, I do agree with the pollution and abandonment of buildings left to blight. It’s ill willed.
Anon, socialism is meant to give everyone the least they need. It isnt based in “want”, what you want or desire.
The fundamental problem with socialism is that a central planning committee decides on the price and quantity of goods and services. The members of a central planning committee could not price a chicken if their lives depended on it. Not because they’re stupid, but because there is no way of obtaining and assimilating the vast amount of information needed to arrive at a price. Only the price-signal system can do that. See F. A. Hayek, The Use of Knowledge in Society (1945).
Omfk, there’s a really nifty equation (math) that gives an optimal price. I cant find it anywhere but one consideration is the target market of the goods or services. The basic income in a town or city is one factor. It, equation produces a price that yields the greatest income.
I can’t find it anywhere. It’s lost.
Someone once said: “Capitalism is the exploitation of Man by Man. Communism is the exact opposite.” It is magical thinking to believe that social, economic and political hierarchy will ever disappear. They will just change their names. Suggesting that bosses or landlords or other forms of hierarchy will disappear is a form of exploitation of human weakness, like legalizing gambling or drug usage.
The really s0a9f thing is that They dont even know what socialism is.