From Sweden to Socialism  

Capitalism doesn’t work: the 1930s proved that. Communism doesn’t work: the 1980s proved that. So what works? Socialism—of the democratic variety, of course. But, viewed concretely, as it is applied in practice, what is socialism today? The answer is—the mixed …



Glut, Son of Markets  

Glut is the four-letter word that has plagued capitalism from the moment of its birth. It is an endemic disease that turns epidemic when ignored. It started several centuries ago in Europe. Today it is global, threatening the economic and …



The Myth of Free Trade  

Free trade is a myth. It does not exist; it never did exist, with the possible and limited exception of a brief period when Britain practiced it as well as preached it to expand its near-monopoly over world manufacture. It …



A Tale of Three Cities  

New York’s economy is divided into three parts: upper, lower, and under. The first two—upper and lower—are old hat, retailored now to fit the service economy. The third—the underground economy—has moved from being a pest to being a pestilence. In …



Labor’s “Vatican II”  

Without fanfare, in the recession summer of 1982, the Executive Council of the AFL-CIO appointed a special committee to “review and evaluate changes that are taking place in America in the labor force, occupations, industries, and technology.” Who would have …



A Case for Economic Redistribution  

Among all the uncertainties of current politics in America, one event—I think—is certain. In the elections of 1986 the Democrats will score a victory: they will increase their majority in the House of Representatives and will capture the Senate. The …



The Centennial of Norman Thomas  

I should like to argue with Norman Thomas who, I will assume, is present in absentia. As Irving Howe said earlier, in Norman Thomas’s later years, this celebrated socialist leader concluded that his career had been a failure. So I say …



What Do Unions Really Do?  

What do unions do? They cause inflation, unemployment, low productivity, and inequality. Hence, what they do is bad. How? The high wages that unions impose cause inflation. The same high wages discourage employers from hiring workers, thereby causing unemployment. Union …



The Radical Myth-Makers  

THE RADICAL PERSUASION (1890-1917):ASPECTS OF THE INTELLECTUAL HISTORY AND THE HISTORIOGRAPHY OF THREE AMERICAN RADICAL ORGANIZATIONS, by Aileen S. Kraditor. Baton Rouge: Louisiana State University Press. 381 pp. $37.50 cloth, $12.95 paper.



Sour Fruits of Reaganomics  

You probably didn’t notice because it was just a small item on a back page in a few papers and was totally absent in most papers and in the electronic media. But this datum tells us just about everything we …



The Friedman Inventions  

In a persuasive tract, Free to Choose (Harcourt Brace Jovanovich, 1979), Milton and Rose Friedman propound an economic system that does not exist, never has existed, and is unlikely ever to exist except in the fantasies of authors who perceive …