With the successful campaigns of Kshama Sawant and Bernie Sanders, socialism is gradually becoming a popular ideology among millions of Americans. Ostensibly, they want to be cared for from cradle to grave and they detest the idea of private property rights, free markets and wealth (or perhaps they envy others having wealth).
It’s quite rare to find professors, educators and the intellectuals in society to promote NAP, capitalism and Austrian economics. Thomas Sowell has eloquently written on the self-anointed promoting socialism, communism and Marxism in numerous articles and books.
The intellectual class believes it has the capacity to plan societies and institute policies they think is best. As other nations can attest to, central planning is a failed concept and can never work.
Here, legendary economist F.A. Hayek speaks with William F. Buckley and talks about why intellectuals drift towards socialism.
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