Table Of Content

Praise for THE PROBLEM WITH SOCIALISM “Like in a bad horror movie, once-dead socialism has come back to life in the United States, capturing the attention of many young people with promises of free things. Our public education system fails miserably in teaching students about the millions of graves filled over the past century by the horrors of socialism. Fortunately, we still have writers like Professor Thomas DiLorenzo to shine light on the socialist lie and guide the youth to the real guarantor of happiness and prosperity: a free society. DiLorenzo’s book is a pleasure to read and should be put in the hands of every young person in this country—and elsewhere!” —Former Congressman Ron Paul “With so many universities having been turned into socialist indoctrination academies, it is a worthwhile investment for parents with college-age children to buy two copies of The Problem With Socialism—one for their children and one for themselves.” —Walter E. Williams, John M. Olin Distinguished Professor of Economics, George Mason University and nationally syndicated columnist “Utterly faithful to the first principles of von Mises and Hayek, and consistent with his myth-busting works on Lincoln and Hamilton, Professor Thomas DiLorenzo has given us another fearless masterpiece. In The Problem With Socialism, he skillfully dissects the intellectual bankruptcy and false reality that have been the earmarks of the systemic legalized theft that socialism became wherever it was tried. We already know that rather than freedom, prosperity, and hope, socialism brought chains, misery, and despair. Now we have that history clearly documented in this powerful, unassailable, and readable book which should be mandatory reading wherever Economics 101 is taught.” —Hon. Andrew P. Napolitano, Senior Judicial Analyst, Fox News Channel, and Distinguished Visiting Professor of Law, Brooklyn Law School “Ever wonder what one book you should give a young person to make sure he doesn’t fall for leftist propaganda? You’re looking at it. Tom DiLorenzo smashes socialism in theory and in practice, and in all its poverty-inducing forms. Guaranteed those college socialists don’t know any of this material—at most American universities, who on earth would have taught it to them? Dance on socialism’s grave by reading this book.” —Thomas E. Woods Jr., host of The Tom Woods Show, and author of the New York Times bestseller The Politically Incorrect Guide® to American History Copyright © 2016 by Thomas DiLorenzo All rights reserved. No part of this publication may be reproduced or transmitted in any form or by any means electronic or mechanical, including photocopy, recording, or any information storage and retrieval system now known or to be invented, without permission in writing from the publisher, except by a reviewer who wishes to quote brief passages in connection with a review written for inclusion in a magazine, newspaper, website, or broadcast. Regnery® is a registered trademark of Salem Communications Holding Corporation First e-book edition 2016: ISBN 978-1-62157-597-9 Originally published in hardcover, 2016 Cataloging-in-Publication Data on file with the Library of Congress Published in the United States by Regnery Publishing A Division of Salem Media Group 300 New Jersey Ave NW Washington, DC 20001 www.Regnery.com Manufactured in the United States of America 10 9 8 7 6 5 4 3 2 1 Books are available in quantity for promotional or premium use. For information on discounts and terms, please visit our website: www.Regnery.com. Distributed to the trade by Perseus Distribution 250 West 57th Street New York, NY 10107 Dedicated to all the victims of socialism— past, present, and future CONTENTS 1 The Problem with Socialism 2 Why Socialism Is Always and Everywhere an Economic Disaster 3 Egalitarianism versus Human Reality 4 Islands of Socialism: The Follies of Government “Enterprise” 5 Why “The Worst” Rise to the Top Under Socialism 6 The Socialist Roots of Fascism 7 The Myth of Successful Scandinavian Socialism 8 How Welfare Harms the Poor 9 How Socialized Medicine Kills the Patient and Robs the Taxpayer 10 How Socialism Causes Pollution 11 Karl Marx’s “Progressive” Income Tax 12 Minimum Wage, Maximum Folly 13 How Socialist Regulation Makes Monopolies 14 Destroying Capitalism by Socializing Capital 15 Is Socialism Really the Best Way to Organize Schools? 16 Socialist Myths and Superstitions about Capitalism Notes Index As Margaret Thatcher famously said, the problem with socialism and socialists is, “They always run out of other people’s money.”