The book begins by citing a 2015 study showing that “43% of Americans between the ages of 18 and 29 had a ‘favorable’ opinion of socialism and that they have a higher opinion of socialism than they do of capitalism.”1 It immediately cites another study in 2016 that “found that 69% of voters under the age of thirty expressed a ‘willingness to vote for a socialist president of the United States.’”2
Economics professor Thomas DiLorenzo saw this as a challenge.
In his beautifully short and information-packed book, The Problem with Socialism, DiLorenzo strikes at the heart of the major elements and issues with socialism. As he aptly states in his introduction, “In order to have a ‘favorable’ view of socialism one must have either forgotten what the entire world learned about socialism from the late nineteenth century on, or have never learned anything about it in the first place.”3
He is correct.
And he knows how to cater it to millennials, many of whom seem to be trending in a Bernie Sanders direction. Well, okay, let’s be honest. The best way to do that might be flashy short video clips. But for a book, DiLorenzo keeps his chapters snappy and thorough; most can be read in 20 minutes or less. I read virtually the entire book in a weekend—quite a feat for a slow reader with a toddler, newborn and two jobs.
What does DiLorenzo cover? Everything from the fundamental economic problems of socialism to how forced egalitarianism conflicts with human nature, to how Scandinavian socialism isn’t what it’s made out to be, to the problems of minimum wage, welfare, state-sponsored education and more. As he writes, this book is meant to be a “primer on socialism (and capitalism) for some; a historical reminder for others; and a handy sourcebook on all the problems of socialism and how it threatens a free society.”4 And he does it all in an easy-to-read way, without the total-silence-needed-for-concentration burden of heavy economic analysis. This book is written for the layperson.
For anyone looking for this sort of easy, quick but comprehensive examination of all the major issues of socialism, I cannot more highly recommend this book. I agree with Thomas Woods, and others who contend that every high school student ought to read this book before heading off to college, but even for those of us beyond that point and immersed in busy lives, DiLorenzo helps us avoid the ignorance that seems to be increasing around us on the topic of socialism. The fact of the matter is, this isn’t just something that you can just take or leave. The more these realities are forgotten by voters and their elected officials, the more it truly will affect our lives. Treat yourself to an excellent source of understanding.
And for my fellow nerds, enjoy a lecture given by Professor DiLorenzo based on this book:
1 DiLorenzo, Thomas, The Problem with Socialism, page 1.
2 Ibid, 2.
3 Ibid, 4.
4 Ibid, 12