The fallacies and contradictions in the economic theories of socialism
were exposed and refuted time and time again, in the Nineteenth Century
as well as today. This did not and does not stop anyone: it is not an
issue of economics, but of morality. The intellectuals and the so-called
idealists were determined to make socialism work. How? By that magic
means of all irrationalists: somehow.
The
essential characteristic of socialism is the denial of individual
property rights; under socialism, the right to property (which is the
right of use and disposal) is vested in “society as a whole,” i.e., in
the collective, with production and distribution controlled by the
state, i.e., by the government.
-- Ayn Rand
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