Authored by Vincent Cook via Mises Institute,
The old debate between socialism and capitalism is back. It wasn't that long ago when socialist economics had been repudiated even by former Soviet insiders, businesses like Wendy's and Miller ran clever television advertisements poking fun at the once-mighty but by then grossly dysfunctional Soviet Union, and the remaining leftist political parties in Western countries pivoted to focusing on promoting welfare statism while admitting that government controls over the means of production is a losing proposition. Back in the day, even people lacking the keen theoretical insights of a Ludwig von Mises could plainly see that actual attempts to realize socialism, however well-intentioned they were originally, only delivered totalitarian tyranny and mass impoverishment.
Since then, schools haven't been so keen on teaching younger generations that a system based on individual liberty constrained only by peacefully-acquired private ownership rights is what deliv
