Source: Free Association
by Sheldon Richman
“Should we be comforted because Zohran Mamdani & Co. sugarcoat the word ‘socialism’ with the qualifier ‘democratic’? I suggest not. Hayek spelled out why. Mamdani can quote Hayek dismissively, but has the mayor read the relevant book, published 47 years before his birth? He shows no signs of having done so. … Hayek explained that democracy cannot withstand the requirements that would be imposed on it by the very nature of comprehensive central economic planning (socialism, whether national and international). This criticism did not refer to the fatal Mises-Hayek calculation/knowledge problem with socialism or the public-choice incentive problem. It concerned rather the political incoherence of democratic socialism.” (08/14/26)
https://sheldonrichman.substack.com/p/tgif-sugarcoated-socialism