Why the Economy Isn’t Controlled by One Big Corporation

by Ryan McMaken

More than a century of failure, mass murder, and ruined economies has not been sufficient to dissuade socialists form the idea that socialism—by which I mean Soviet-style socialism, not social democracy—can bring astounding prosperity once the planners work out the kinks.

Sure, the Soviet Union failed, North Korea is a basket case, and socialist countries routinely drive down local standards of living in pursuit of utopia. But success will be achieved just as soon as socialists can find the right way to combine new technologies like “big data” with the right public administration techniques. Then, at last, a functional and efficient socialist state will be at hand.

One of the latest schemes for finding the right “techniques and technologies” that will allow us to crack the socialist nut could recently be found at the avowedly socialist magazine Jacobin in May of this year.

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