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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

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CURRENT ISSUE

April 2014

Around the world, people are struggling to throw off authoritarianism, with deeply mixed results. From Egypt to Venezuela, determined people build networks to overthrow their regimes, but as yet we have not learned to live without Leviathan. In this issue, Michael Malice and Gary Dudney discuss their glimpses inside totalitarian regimes, while Sarah Skwire and Michael Nolan look at how totalitarian regimes grind down the individual--and how individuals fight back. Plus, Jeffrey Tucker identifies a strain in libertarianism that, left unchecked, could reduce even our vibrant movement to something that is analogous to the grim aesthetic of architectural brutalism. The struggle for our lives and freedom is a struggle for beauty; it begins inside each of us.
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