About socialism…

Economic socialism, such as what was conceived by Marx, is founded on two fundamental pillars:

1. Public property of the measures of production, work and capital.
2. Creation of a central planning organ (council of knowledge) that determines who, what, how much and when to produce.

Criticisms of socialism, theoretical impossibility and practice.

As they already explained in the 20’s and 30’s of the last century, the theories of the Austrian School of Economy, lead by Ludwig von Mises and Friedrich Hayek, and more recently by Jesús Huerta de Soto and Hans-Hermann Hoppe amongst others, the communist type of socialism is not technically possible for the following reasons:

1. Socialism assumes that all the available information can be managed by a central authority (regardless of the number of managers) overlooking that today’s society is based on the use of widely dispersed knowledge that far exceed the capacity of any individual mind. It’s said, the total volume of information is so immense and continuously changing, it is technically impossible to conceive that you can get to know it and process it centrally with no governing body. Today, there is no human or machine capable of compiling, accumulating, processing and managing all the ever-changing information (likes, needs, market circumstances…) to successfully organise and coordinate the running of societyContinue Reading

Dan Pallotta: The Way We Think About Charity Is Dead Wrong

The things we’ve been taught to think about charity and the nonprofit sector are actually undermining the causes we love and our profound yearning to change the world.

If we really want a world that works for everyone, with no one and nothing left out, then the nonprofit sector has to be a serious part of this. However, what the nonprofit sector is doing doesn’t seem to be working; poverty and homelessness still exist and cures for cancer haven’t been found. This is because these social problems are massive in scale and our organisations are tiny up against them, and we have a belief system that keeps them tiny. We have a different set of rules for the nonprofit sector than for the rest of the economic worldContinue Reading