Monday, February 24, 2020

Issue 2001

February 2020
Essays
Essays

Capitalism, Socialism And Nationalism: Lessons From History

by Niall Fergusonvia Socialism and Free Market Capitalism: The Human Prosperity Project
Monday, February 24, 2020

Schumpeter warned that socialism might ultimately prevail over capitalism, for four reasons. Creative disruption is rarely popular. Capitalism itself tends towards oligopoly. Intellectuals are susceptible to socialism. So are many bureaucrats and politicians. Socialism had manifestly failed everywhere it had been tried by the 1980s, apparently proving Schumpeter wrong.

Essays

Capitalism, Socialism, And Freedom

by Peter Berkowitzvia Socialism and Free Market Capitalism: The Human Prosperity Project
Monday, February 24, 2020

Despite the fundamental distinction between the two, misunderstandings of capitalism and socialism — and their implications for freedom — abound, and usually in favor socialism. In these circumstances, a return to the basics is warranted. The 17th-century writings of John Locke in defense of political and economic freedom and the 19th- century critique by Karl Marx of political and economic freedom represent classics of the genre. 

Letter From The Editors
Letter From The Editors

Letter From The Editors

by Scott W. Atlas, Edward Paul Lazearvia Socialism and Free Market Capitalism: The Human Prosperity Project
Monday, February 24, 2020

With this issue, scholars at the Hoover Institution are launching a program designed to evaluate free-market capitalism, socialism, and hybrid systems to determine how well the various governmental and economic forms promote general well-being and prosperity. The project is particularly important and timely, given recent interest in policies that are radical from a US historical perspective, some of which are advocated by political leaders and presidential candidates.