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JGP's avatar

Good interview.

The problem with socialism is its outcomes. The intentions behind it are often benevolent, although with guys like Mamdani I am certain the reverse is true, but its supporters rarely ponder its consequences. Consider how rent control (which is supposed to lead to cheap homes for people) inevitably leads to housing shortages unless you have lots of money, or how medicare reduces (actually redistributes) the costs of medical care while reducing access to it. I live in Canada where both these problems are very, very serious. Pushed to its limits (communism), socialism has caused the deaths of 10M people under Stalin, between 45M and 100M under Mao, 2m-3M under Pol Pot in Cambodia, and roughly 20M under the National Socialists (Nazis) in Germany. Socialism is attractive to people who don't know any history and don't understand economics. Arguably, it is attractive to people who don't understand human nature.

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