from The Daily Bell:
Being an Ideologue Means Never Having to Say You’re Wrong … “Communism would have worked, if the Soviet Union had only tried it for real.” … For any political-economic ideology, there is always a hard core of believers who will never waver in their conviction that if only the program were tried in its pure form, it would succeed. Any failures — even debacles on a grand scale, including the fiasco of 20th century communism — will be chalked up to ideological impurity and improper application.- Bloomberg
Bloomberg’s Noah Smith, the site’s most provocative and often wrongheaded columnist compares communism to free-markets in this editorial. His conclusion: “Hard core believers” of any type are probably wrong.
We don’t think so.
Communism in its modern form is a pervasively authoritarian ideology. Its corollary is state control. Free-market economics is exactly the opposite. It is most effective when the state is at least dormant.
Can societies ever be too free? That’s hard to fathom. Certainly – and sadly – that doesn’t seem to be a problem in the world today. Nonetheless, Noah pursues his points.
In reality, true believers often cling tenaciously to their worldviews … [But] the tendency toward ideological commitment is now being tested in the U.S., as free-market dogma — sometimes known as neo-liberalism — is coming under increasing attack.
Bernie Sanders’s presidential campaign gained a surprising amount of support from young people. Economists, both in the public eye and out of it, are focusing more on inequality and embracing a more activist role for the state.
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