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FOR YOUR BOOKSHELF | Robert Lawson & Benjamin Powell's Socialism Sucks: Two Economists Drink Their Way through the Unfree World (Regnery Publishing, 2019)
When I was asked to review a book for this newsletter, I was preparing for two reading groups for the fall semester at the University of Louisville. Each group would read three or four books, so I thought I would pick from one of them. Our first group read Cohen's Why not Socialism paired with Brennan's Why not Capitalism. These are cute takes on the two economic systems, but did not resonate well with the students. Their second book was Ben Powell's Out of Poverty. This is an interesting examination of sweatshops which shows that many workers prefer these jobs over their next best alternative. The second reading group read Jonathan Haidt and Gregg Lukianoff's The Coddling of the American Mind. They examine the causes for the oversensitive attitudes of today's college students and give solutions to help these kids. We also read Peter Leeson's The Invisible Hook which was an application of economics to pirates. I would recommend Powell, Haidt, and Leeson books if you think the topics are interesting.
However, I had both groups of students read Ben Powell and Bob Lawson’s book Socialism Sucks: Two Economists Drink Their Way through the Unfree World. Imagine this book as a travel guide from Anthony Bourdain and Milton Friedman. Bob and Ben visit Venezuela, Cuba, and the border of North Korea and compare these countries to their neighbors in terms of the quality and availability of various goods including beer. It is a dismal comparison. They describe the importance of economic freedom to flourishing in society. This book is a great way to understand the differences in outcomes when people are constrained under a socialist system relative to a free enterprise system where people can engage in legal activities unhindered by a government overlord. It’s a fun and easy read with great information.
Recommended by Stephen F. Gohmann, PhD, Professor and Director of the University of Louisville College of Business's Center for Free Enterprise.
Recommended by Stephen F. Gohmann, PhD, Professor and Director of the University of Louisville College of Business's Center for Free Enterprise.
Views expressed here are those of the author and not necessarily those of the McConnell Center. This recommendation is part of the McConnell Center's Meditations publication series for soldiers and students in our Strategic Broadening Seminar. SUBSCRIBE to our newsletter.