Thursday, May 10, 2018

Rick A Kelo - Socialism is NOT Public Goods

One common Socialist mantra is: "If you don't like Socialism then don't drive on the roads or call the police department if your house gets broken into!"

"This Socialist trope is offensive because of its pure dishonesty," says Rick Kelo.  As a former economist educated at West Point, then later at Chicago Rick A Kelo dissects this widespread Socialist fallacy that even most economics professors won't touch.

"Economics is a specialized discipline, so there's nothing wrong with not being familiar with what it teaches," Rick Kelo points out. He continues, "However there is something wrong with writing and speaking publicly about economic issues if you don't know what you're talking about.  This Socialist claim about roads is one example.  As economics students can tell you, what we're really discussing with roads or police departments are four types of goods."

These are the four types of goods taught in basic economics textbooks:

What Rick Kelo points out is that the whole Socialist argument is a fallacy:

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