Thoughts on economics and liberty

Transcription of Javier Milei: Four reasons why socialism fails

This is an auto-translation via AI transcription and Google translate. Will need to review before inclusion in Missing Chapters.

What you have to understand is that what is wrong is the idea, the idea is going to work badly even with Mother Teresa of Calcutta, that is, socialism can only work if the one in the chair is God and it is not God because neither It is neither omniscient nor omnipotent nor omnipresent. So why does socialism fail? What we have to understand is why socialism always fails. And why it later leads to violent actions. Basically, the socialist system fails because of four elements: firstly, because it is impossible for it to exist.

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The information that you can get from all the agents of the economy and that a single person can process is impossible, a lot of it is impossible. That is the first point. The second point is that a lot of the information has to do with knowhow. It is like that. I ask Michael Jordan to tell me how to do the dunk and tell you, take Santiago, you’re not going to be able to do it. The third problem that socialism has is that the Market process is a Dynamic process where each one is discovered. of the

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transactions So what happens when the information is generated, the governing body always arrives late and what is worst of all, let’s say that it is the contradiction that ends up falling socialism because in order for it to work, it has to let the market act, not not interact. now then why does it control then a contradiction arrives what it is and what it ends up generating always the same thing always happens it generates scarcity it generates poverty it generates violence i

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Sanjeev Sabhlok

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