Socialism never works

 Sources (John Stossel):
https://www.creators.com/read/john-stossel/02/21/real-socialism
https://www.creators.com/read/john-stossel/02/21/socialism-never-works

"Powell" is  economist Ben Powell, director of the Free Market Institute at Texas Tech,

"People hate America's big disparities in wealth.

It's a reason why, among young people, socialism is as popular as capitalism.

The Democratic Socialists of America want a country based on "freedom, equality and solidarity."

That sure sounds good.

But does socialism bring that?

... Venezuela was once Latin America's richest country.

Now it's the poorest.

...  "Their economic policies fail to adjust to reality because economic reality evolves every day.

It's millions of decentralized entrepreneurs and consumers making fine-tuning adjustments."

"In a socialist economy, you get a one-size-fits-all adjustment," ...

In America, Blockbuster video was a great success.

But then Netflix offered something better — no driving to a store, no late fees.

Because Blockbuster didn't immediately adjust, it went bankrupt.

"In a socialist economy, every adjustment needs to be commanded," says Powell.

 "Communicate it down and get everybody to do the right thing. 

That's impossible."

That's why under socialism, shortages are routine.

In Venezuela, there's so little food for sale that Venezuelans have lost weight.

... The U.S. only sanctioned a few Venezuelan officials and their operations — not the country as a whole.

In Cuba, Powell points out: "They drive around 1950s U.S. cars ... but there's no U.S. Navy destroyers prevent Kia, Fiat and whoever else around the world from sending them cars.

The reason for their suffering is they have an economic system that can't deliver."

Socialism delivers misery."

The following quotes are from the second link:

"Socialism works if it's "democratic ?

But Venezuela's socialists were elected.

... Hugo Chavez was elected but became an authoritarian who chose his successor, Nicolas Maduro.

Maduro now gets "elected," by having opponents arrested and "ordering state employees to vote for him or they lose their job," says Powell.

They are not wrong. 

"Some industries are government-owned," replies Powell, but "when you look at things that are inefficiently done — public education, our congested streets — (it's clear) socialized industries don't work well."


"They do in Scandinavian countries!" say socialism's promoters.

That's myth No. 4.

Scandinavia does have big welfare programs, but capitalism pays for them.

The socialists call Sweden socialist, but that's just wrong.

"Volvo is a private company," says Powell.

"Restaurants and hotels are privately owned.

Markets organize the vast majority of Swedish economic activity."

Sweden did once try socialism.

The result was high taxes, inflation and economic decline. It's an example of how people in prosperous places often don't know what made their lives better.

In 1950, Sweden was the world's fourth-richest country.

Then Sweden tried socialism.

... "Businesses moved headquarters and investments to more hospitable places.

IKEA left for the Netherlands...

Bjorn Borg and other sports stars fled to Monaco."

Sweden recovered only when it ended its socialist experiment.

They cut taxes, government spending, and sold state-owned businesses.

After economically ignorant politicians like Bernie Sanders called Scandinavia "socialist," Denmark's prime minister even came to America to say: "Denmark is far from a socialist planned economy. Denmark is a market economy."

In fact, in rankings of economic freedom, Denmark ranks as more free market than the United States.

Socialism is completely different from fascism ?

... Nazis were "national socialists."

... Fascism "leaves private ownership in nominal terms" but neither system allows individual freedom. "

You lose... control over your own future.

Only under capitalism do you have the freedom to say, 'No.'"

Socialism appeals to people today because it promises "equality and social justice," but look at its track record. 

In Russia, Cuba, North Korea, Nicaragua, Vietnam and China, socialism has meant a loss of freedom.

Socialist experiments also failed in Israel, India, Great Britain, Afghanistan, Syria, Algeria, Cambodia, Somalia, etc.

There are no socialist success stories.

... Yet, millions vote for socialism."