My article “The Education of the Modern Socialist” deserves a follow-up. The first part showed that a change has occurred in the definition of “socialism”—a necessary change in view of the failures of this ideology during the last century. Socialism today is based on the ideology of “statism”—the conviction that …

Libertarians often wonder why socialism continues to be so popular, even though it has proved to be such a failure as a political ideology and as an economic system. Though a public education system and a biased mainstream media are key reasons for this, the stubborn resiliency of socialism is …

We now turn our attention to what happens with an increase in the money supply, rather than an increase in savings. This is critically important. The mercantilist idea that increasing the money supply increases prosperity was exposed as an error centuries ago by Richard Cantillon.1 However, modern mainstream economists, including …