What Is Capitalism And Socialism?

Even though we all live in a capitalist economy, few people seem to understand what this means. The word is thrown around in economic and political debates without much consistency. The situation is even worse for socialism which seems to be a label thrown onto random policies without any understanding. So to help clear up the confusion, I thought I would give a clear and simple explanation to what these words mean. Continue reading “What Is Capitalism And Socialism?”

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1919 Limerick Soviet

Ireland is probably the last place in the world that you expect workers to host a red flag and seize control of a business let alone an entire city. That sort of stuff is usually considered too continental for our liking. Yet this is exactly what happened in 1919. A soviet was declared and the workers seized control of essential supplies. They even printed their own money. Nor was this some irrelevant backwater but rather Ireland’s fourth largest city. Continue reading “1919 Limerick Soviet”

Misunderstanding Hayek And The Road To Serfdom

“The Road To Serfdom” by Fredrick Hayek is a disappointing book. Conservative bloggers often race about it claiming it has great insights into modern politics. While I disagree with the Austrian school of economics I read it to here the other point of view. I found it a boring, out dated book that didn’t have anything particularly original or insightful to say. It’s mainly concerned with saying a totalitarian state where the government controls everything doesn’t work (you don’t say). The book might have been relevant when it was published, but I am at a loss to see its use today.

I think to a large extent Hayek has been misunderstood. I have regularly heard people use Hayek to criticize the growth of the state or the Obama administration. Yet Continue reading “Misunderstanding Hayek And The Road To Serfdom”

Obama Is Not A Socialist

Obama is regularly described as a Socialist or Marxist or Communist. This is an extremely outrageous and daft claim not supported by the least amount of evidence. It is only believed by a delusional fringe of the far right, not by anyone who has examined the facts. If you do you will see that Obama is actually a centrist moderate, whose desire for bipartisanship has not been met halfway. Others claim he was a member of a Communist party in his youth or was friends with Communists (these are the same people who claim he was born in Kenya).  Continue reading “Obama Is Not A Socialist”

What If The Workers Ran The Business?

Most people think there is only one way of running a business, that is, with a boss in charge telling everyone what to do. The boss makes all the decisions and keeps all the profit. This is the way it always has been and the way it always will be. But then again there was a time when people thought the unrestrained rule of Kings was the natural way of running a country. What if there was an alternative? What if the workers made the decisions themselves? What if they took ownership of their place of work rather than simply having it as a means to make a living? What if the makers of the money got to keep it? What if the divide between employer and employee was removed? What if the workers ran the business? Continue reading “What If The Workers Ran The Business?”