Socialism and Reality

Must read (the whole thing) at American Thinker.

"Despite the history of failure, every new generation of adherents to socialist ideology believe that they can make this arrangement work and maintain their unwritten agreement with the citizenry.

But the reality is that they cannot, as the economic engine of capitalism will not continue to produce wealth if it is increasingly put under the thumb of bureaucrats and central planners inevitably attempting not only to institute governmental management of the economy, but also to regulate the day-to-day activities of all citizens. The motivation of the producer class will be stifled, and they will either drop out, join the dependent class, or simply move on to other, more hospitable countries -- a reality more in play than ever in today's global economy.

In due course, centralized governments will, as history has shown, turn to excessive and unsustainable borrowing, as well as inflation, to finance their societal obligations. The contract between the statists and the citizens who were promised cradle-to-grave security cannot be maintained, as the economic underpinning of this arrangement will quickly erode."