https://www.frontpagemag.com/fpm/2020/03/sorry-history-socialism-bruce-hendry/
Below is Part 8 of a new essay written by Bruce Hendry: Democrats, Progressives and Socialists. Stay tuned for the ensuing chapters. [See links to previous chapters below this article].
19. Economic Fundamentals.
One of the dangers to our democracy is the total lack of understanding of basic economics. Most K-12 teachers can’t teach economics because they don’t know it. Yet every organization from a children’s lemonade stand to the largest company, and of course to a country, is subject to immutable and unseen laws of economics. How can you possibly understand the implications of your political decisions if you don’t have any understanding of their economic impact?
Economics is simply the quantification of human behaviors and decisions. Economic conservatives believe in making decisions based upon facts, logic and the idea of a free market system. Democrats believe in making decisions based upon wishful thinking, emotions and socialism. Both groups say that they are for equality for all citizens and are against discrimination in their societies, but they have different views of what is meant by “equality.” The free market conservative group thinks that everybody should have an equal opportunity to succeed, while the socialist Democratic group believes in equal outcomes, enforced by the power of the government.
Understanding beginning economic theory is foundational to understanding what actually works in a society. This understanding is necessary in order to dispel the wishful thinking, denial, and community-held mythologies that result in electing officials that codify things that don’t work or are actually hurtful to those that the laws are supposed to help.