socialism

Reflections on the French Election

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The election of Socialist Party candidate Francois Hollande to the presidency of France epitomizes the sorry state of contemporary democracy. By that, I don’t mean to imply that the French people should have voted for the incumbent, Nicolas Sarkozy. Neither would be capable of solving France’s intractable problems in a way acceptable to French voters, … Read more

Economics: The Cheerful Science

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Chances are, you’ve heard economics referred to as “the dismal science.” That unflattering description is glib and catchy; it is also 100 percent wrong. Let me set the record straight and explain why economics—far from being dismal—is cause for hope, joy, cheer, and optimism. Thomas Carlyle, a 19th-century Scottish essayist, coined the phrase “the dismal … Read more

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