de Silentio wrote:
You are right about Marx (as history has proven), but be careful to lump socialism in general with Marx. Communism in theory was a joke (in my opinion) and in practice it obviously failed.
Communism in theory always has been a joke, ever since economic calculation has been disproven by Mises and Hayek.
But that does not mean that there are not good socialistic ideas, or that socialism is bad in and of itself.
Yeah it does.
Economics is an apriori science, there cannot be a "rich empirical record to judge these issues scientifically."
The author of that article misrepresents many things. First of all, you cannot compare and contrast the economic successes of Scandinavian and other nations and claim that welfare and similar socialistic measures have made Scandinavian nations more advanced.
Scandinavian nations are more ethnically homogenous, which is one reason for their good "statistics." Also, they have relatively easy-going regulation (more-so than Anglo nations), which helps them look better. Their high unemployment rate is due to government intervention (welfare) and it is entirely voluntary. Their economies perform on a sub-par level due to high taxes and socialistic measures.
Lastly, this article does not prove that Hayek was wrong in anything. In nations with more taxation and more regulation, we have seen and we are seeing today a move towards greater government control at the expense of individual freedom and liberty.
Didymos Thomas wrote:
Marx did not give much of an opinion about what sort of government a state should have. Therefore, his theory has never been tried, thus history cannot prove anything about how successful his theory can be, especially when every system of government used by communist nations has been a system clearly opposed to the ideas of Marx, namely, totalitarianism.
Marx never was a totalitarian, but his economic theories have been disproven by Mises and Hayek. Marx's vision of a pool of goods being shared by the community is nothing less than ridiculous and shows a profound ignorance of supply and demand.
Also, Marx's labor theory of value goes against what all economists accept now-a-days, as LTV has been thoroughly destroyed as an economic theory (prices are determined by supply and demand, not by amount of labor needed to procure the given commodity). Since LTV is at the basis of Marxism, a blow to LTV is a serious blow to every Marxian.
Marx's hate of entrepreneurs, which was also based on LTV, is just as unfound. Entrepreneurs do not steal value away from workers, they agree to a voluntary exchange where they agree to pay individuals (workers) for the services those workers can provide. Entrepreneurs are the driving force of an economy, fulfilling the needs of the people by opening businesses and raising aggregate demand by employing workers.