Episode 49: "Why Socialism Fails to Deliver" with Richard Rahn
"The economy of Venezuela has collapsed as a result of gross socialist mismanagement. Their currency is essentially worthless. To start over, the next government of Venezuela must re-establish the rule of law, protect private property rights and create a new currency." So writes Richard Rahn, one of America's most brilliant economists. With socialism now stunningly in fashion in the United States, we need to be better teachers about its dangers. For example, Dr. Rahn has a great way in a classroom setting to convey to students the problem with socialism. He asks how many favor free college or…
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