Socialism Begets Socialists

Referencing recent polls and the popularity of Bernie Sanders among the youth, famed economist Walter E. Williams laments the signals that “young people prefer socialism to free market capitalism” in America. The reason for this, he believes, “is a result of their ignorance and indoctrination during their school years, from kindergarten through college.  For the most part, neither they nor many of their teachers and professors know what free market capitalism is.”  I have great admiration for Dr. Williams, but it struck me that this doesn’t paint a complete picture.  First of all, the youth may not have a firm grasp on the virtues and benefits of a free market, but they certainly know what socialism is, economically speaking.  They know it involves the government engaging in the coerced seizure of wealth from some to provide for others.  They just really like that idea. Secondly, while there is indeed an alarming lack...(Read Full Article)