The property instinct and the utter futility of socialism – The Property Chronicle
Select your region of interest:

Real estate, alternative real assets and other diversions

The property instinct and the utter futility of socialism

The Professor

If you are like me, you regularly interact with people who remain unphased by America’s recent giant strides towards authoritarian socialism, of an economy run largely by and for state actors and their corporate minions. Those who bother to engage with the problem at all eventually exclaim something like, “Well, no society has ever tried ideal socialism”, by which they mean a system that truly redistributes wealth according to everyone’s needs.

A new book from Chapman University law and economics professor Bart Wilson entitled The Property Species nowhere mentions communism, Marx or socialism, but nevertheless provides a powerfully cogent explanation for why socialism, especially ‘ideal’ socialism, can never work – it’s inhuman, because it doesn’t account for humanity’s property instinct.

Classical liberal comebacks to the ideal socialism canard tend to focus on the reasons why socialism cannot possibly succeed. Check out Don Boudreaux’s The Inevitable Failure of Socialism for many powerful economic reasons whi socialism, even ‘ideal’ socialism, cannot increase the living standards of the masses as quickly as market economies can.

“Our overly powerful governments regularly enrich one party at the expense of others”

The Professor

About Robert E. Wright

Robert E. Wright is the Nef Family Chair of Political Economy at Augustana University in Sioux Falls, South Dakota. He is the author of 18 books, including a new book on financial exclusion published by AIER.

Articles by Robert E. Wright

Subscribe to our magazine now!