An Anonymous Coward writes:
The Guardian reports that "socialism" was the most looked-up word on Merriam-Webster's site this year, a change the American dictionary publisher attributes to US presidential candidate Bernie Sanders, who has positioned of himself as a "democratic socialist".
As a socialist (or communist) myself, I personally think it's great that especially people from the United States try to figure out the meaning of the word beyond McCarthyism. I'm glad that people show interest in politics and finding out about positions of candidates.
Past years winners are available on Wikipedia.
Mark All as Read
Mark All as Unread
For a guy who supposedly dislikes utopias you seem curiously stuck with "pure capitalism", which is based on impossible requirements, such as
*Perfect information*No barriers of entry and exit*Zero transaction costs*Non-increasing returns to scale*No externalities
and the most impossible of all
I guess people like to publicly root for some other ism besides egoism...
I see the Marxists are here with their talking points. All those issues and more are addressed in the referenced book. And it and a metric crapload more are freely downloadable in multiple formats. In this great Age of Information there really is no excuse for ignorance.
Seriously. Perfect information? It is the market economy that can deal with it, planned ones reliably fail in the presence of incomplete, or worse conflicting, information. Externalities? Yup, it is in there. Scale issues? Open a book and learn. Even the problem of rational actors vs irrational ones is addressed.
Economics is mostly a solved problem. What apparently isn't solved is the political science and psychology to get people to actually accept the science. We live in a dark age of New Age Religions, wicked political systems, half baked redistribution schemes masquerading as economics and general unreason. It won't end well.