Henry Waxman and the New American Way

by Benjamin Domenech on 11:02 am April 21, 2010

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My latest piece is at BigGovernment. It includes a nod to Francis:

The aims of socialism are often misunderstood by most Americans, as the only socialist most know of is that harmless disheveled professor on the local campus. It’s a word which can hardly be considered insulting when an elected Senator of the Socialist party caucuses with the Democrats. While socialism is sold as a way to elevate the underclass, the actual result of its application isn’t to increase the prosperity of the poor – it’s a method of achieving permanent stratification by allowing the more productive members of society to pass any losses onto others.

The reason socialism fails, as my colleague Francis Cianfrocca describes it, is that it socializes losses, not gains. It is an application of the “too big to fail” policy across all levels of society – because the losers no longer face consequences for their mistakes, businessmen are happy to make more of them, morphing into the oligarchs of the Soviet era. The rich stay rich, the poor stay poor, and the classless society becomes one where the boundaries of class are nigh impossible to break.

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