In part 2 in response debunking Mouthy Infidel on the Labour Theory of Value, I make the argument for why socialism doesn't work. Mouthy Infidel claims the failure of the Soviet Union would eventually come as a result of Mikhail Gorbachev, as I…
In part 2 in response debunking Mouthy Infidel on the Labour Theory of Value, I make the argument for why socialism doesn't work. Mouthy Infidel claims the failure of the Soviet Union would eventually come as a result of Mikhail Gorbachev, as I prove, the Soviet Union was always a failure.
In correlation to the previous argument he claimed about the failure of Venezuela, Cuba, Chile and the Soviet Union about U.S. embargo's, I cover the reason for why socialism doesn't work regarding the issue on currency and inflation.
It is important to note, I describe and define socialism from the real world perspective, not the theoretical fairy tale bed time story nonsense of Marxism being this moneyless theory, so before Mouthy Infidel responds saying Marx didn't believe in a monetary system, that has no bearing on the real world; what you have in theory on paper is not the same thing as to what you put in practice and socialism in practice leads to catastrophe either way, whether that is a moneyless based economy, as there is no price information signals or fixing prices.
Therefore the Marxist Labour Theory of Value is directed at Marxists from the real world perspective. I could cover on why having a moneyless based economy is ludicrous but that is a whole other topic issue.
Therefore, the natural state of socialism and why socialism doesn't work, why it results in such inflationary problems isn't just the requirement of higher tax rates (which I explain,) but also the monetary issue.
Another thing I do address is what constitutes economic success. Now, I understand that economies are complex and you could cover on a variety of things like life expectancy, etc, however, I relate economic success to it's sole purpose and the evidence I provide shows for just how inefficient socialism has been. Again, this correlates to the economic calculation problem which I argued in part 1 and the knowledge problem.
