Older people are shocked that the young people like Alexandria Ocasio-Cortez are embracing classic Socialism. Are the young being irrational? Not hardly. They are not rejecting the free market system. They have not lived in a free market system. They may not even understand the concept.
So they have two choices. We have a top down socialist system in the United States. For their wants and needs a classic socialist system seems more appealing and that makes sense. Both systems destroy wealth. In our existing system there is more wealth to destroy and it victimizes those at the lowest end of the food chain and moves higher as time passes. In a socialist system, resources are rationed according to political power. In our system the political power is at the top of the income scale.
What the young socialists are trying to do is organize political power at the bottom so as to control the flow of resources from the bottom and get more benefits for themselves by changing the face of our existing socialism. Given that top down socialism already has its grips on the country, that is their best choice. They are criticized for rejecting free market principles but their are no free market principles in play to reject. It is an error for older established Americans not to understand this.
Both top down socialism and the classic kind of socialism amount to economics by force. The young intuitively understand this and are trying to change the style of socialism to one that is more suitable to the young who have no money to buy results in congress.
Donald Trump, our president is in the process of creating inflation by virtue of the trade war. The inflation will serve the wealthy by passing the burden of our enormous debt to the population at large. The new deficit spending will create a wider income gap between the rich and the poor. This will be very painful for folks at the bottom of the food chain who are just getting started. For the young a move to classic socialism is an act of self defense. Political power determines outcomes in any socialist system.
It makes sense that they would try to get more political power down at their level. As it is congress is used mainly to pass laws to rig markets and extract wealth out of the general population. The young have no way to participate in that system. They are just trying to get the most out of the system themselves as are their older counterparts.
There is no free market system to reject. To the young that is only and abstract idea and they have no experience with it.
The truth is a hard sell. Fantasy Free Economics gains readers one at a time. Major search engines simply do not list blogs which disagree with their political agenda. As long as folks share the link to this blog and others speaking out against the grain, the truth will at least trickle into the public consciousness.
Fantasy Free Economics recommends the following blogs.
Of Two Minds Liberty Blitzkrieg Mises Institute Straight Line Logic Paul Craig Roberts
Views: 1
