LOL....... Left learning...... Man that's funny.
https://www.forbes.com/sites/timwor...-venezuela-markets-work-not-markets-dont/amp/
Given the political goings on in Venezuela–the people elected a Congress not to the liking of the socialists therefore the socialists created another Congress–there is now a certain amount of pondering over there on the left over what went wrong. The answer, in the economic sense, is very simple indeed. Market based economic systems work, non-market economic systems do not work. This extremely simple point is sadly one which all too many of those over on the left do not grasp. It’s also the one simple thing about economies that they must indeed grasp.
This does not mean that you cannot have the traditional concerns of the left, about exploitation, anomie and inequality. It also doesn’t mean that you cannot have socialism, as long as you understand what that is. It does though mean that you’re not going to get anywhere by trying to destroy the price system and the markets which both create and process that information. You can, for example, entirely usefully think that the economy would be much better off with many more workers’ cooperatives in it. Getting rid of the capitalists isn’t the Holy Terror that some assume. But that cooperative economy will still only work if you’ve a price system, competition between the cooperatives and that market.
https://www.forbes.com/sites/timwor...-venezuela-markets-work-not-markets-dont/amp/
Given the political goings on in Venezuela–the people elected a Congress not to the liking of the socialists therefore the socialists created another Congress–there is now a certain amount of pondering over there on the left over what went wrong. The answer, in the economic sense, is very simple indeed. Market based economic systems work, non-market economic systems do not work. This extremely simple point is sadly one which all too many of those over on the left do not grasp. It’s also the one simple thing about economies that they must indeed grasp.
This does not mean that you cannot have the traditional concerns of the left, about exploitation, anomie and inequality. It also doesn’t mean that you cannot have socialism, as long as you understand what that is. It does though mean that you’re not going to get anywhere by trying to destroy the price system and the markets which both create and process that information. You can, for example, entirely usefully think that the economy would be much better off with many more workers’ cooperatives in it. Getting rid of the capitalists isn’t the Holy Terror that some assume. But that cooperative economy will still only work if you’ve a price system, competition between the cooperatives and that market.
