BEGINNER

Socialism

A political system that does not allow for private ownership of property. Unlike a market economy, a planned socialist economy lacks market prices because it does not allow for free exchange. Instead, socialist systems favor government ownership of the means of production and central economic planning. 

C. Bradley Thompson - "Why Marxism?"

 

Jeff Proctor - Why Socialism Fails

 

Peter Boettke - Socialism in Transition

Related Publications

ARCHIVE

Socialist Theater 101

DECEMBER 08, 2011 by NICHOLAS SNOW

ARCHIVE

Against the Zeitgeist

OCTOBER 31, 2011 by NICHOLAS SNOW

Related Freeman Articles

BOOK REVIEW

Why Not Socialism?

DECEMBER 22, 2010 by ART CARDEN

ARTICLE

Who's Afraid of Socialism?

Time to reassess our strategy.

AUGUST 13, 2010 by SHELDON RICHMAN

It is not obvious to me a priori that the American variant of the welfare state is superior in every respect to the European variant.

FROM THE PRESIDENT

The Soviet Chamber of Horrors: Reminders on the Ninetieth Anniversary of the Bolshevik Revolution

Twentieth-Century Socialism Is a Story of Crushing Tyranny and 64 Million Deaths

NOVEMBER 01, 2007 by RICHARD EBELING

Related Multimedia

MULTIMEDIA - AUDIO

Intellectuals and Socialism

JANUARY 19, 2010

This lecture, in which Hayek discusses "Intellectuals and Socialism" was recorded March 23, 1962.

MULTIMEDIA - VIDEO

The Dubious Appeal of Socialism

MAY 04, 2009

MULTIMEDIA - VIDEO

Liberalism or Neo-Socialism in Latin America

MARCH 09, 2009

ONLINE EVENTS

FEE offers live online events for people new to the economic, ethical, and legal principles of a free society.

CURRENT ISSUE

July/August 2014

The United States' corporate tax burden is the highest in the world, but innovators will always find a way to duck away from Uncle Sam's reach. Doug Bandow explains how those with the means are renouncing their citizenship in increasing numbers, while J. Dayne Girard describes the innovative use of freeports to shield wealth from the myriad taxes and duties imposed on it as it moves around the world. Of course the politicians brand all of these people unpatriotic, hoping you won't think too hard about the difference between the usual crony-capitalist suspects and the global creative elite that have done so much to improve our lives. In a special tech section, Joseph Diedrich, Thomas Bogle, and Matthew McCaffrey look at various ways these innovators add value to our lives--even in ways they probably never expected.
Download Free PDF

PAST ISSUES

SUBSCRIBE

RENEW YOUR SUBSCRIPTION

img E-mail Subscription

VIEW PRIVACY POLICY