“Want to be rich? Start a good business.
Want to be really rich? Become a socialist.”
There is no shortage of empirical data that socialism fails every time it has been tried, and leaves the largest body count in it’s wake. Dr. Kristian Niemtietz’s “Socialism: The Failed Idea that Never Dies” documents the three distinct stages socialism goes through
Niemietz documents each occurrence of socialism in the 20th century in his book to show that central planning and redistribution simply do not work.
Then there’s the Black Book of Communism, which tallies up the body count of the socialist regimes of the 20th century (over 100 million souls).
So it’s curious, why are our intellectual, cultural and sundry political and economic elites decrying capitalism and promulgating socialism as a cure for societies perceived ills?
A few months ago I was on the Lite Show (Litecoin) podcast, we got to talking about Facebook’s forthcoming crypto currency, which hadn’t been named yet. I mused then that it would totally suck for the entire crypto-currency space to have come this far with Bitcoin, et al only to have Facebook swoop in and take all the marbles. (In marketing parlance this maneuver is called “grabbing the microphone”)
Then Facebook announced their digital currency, it’s Libra, and it was met with immediate resistance. But the pushback, didn’t come from where one might expect it, from within the crypto community. There was plenty of commentary about it to be sure, but nobody from within the crypto space was saying that Libra had to be stopped. Read on