The White House Says Socialism Is a Threat. It’s Right.
25th October 2018
Tyler Cowen, a Real Economist, turns over a rock.
Who would have thought that an attack on socialism would be so controversial? But these days it is. The White House’s Council of Economic Advisers issued a report called “The Opportunity Costs of Socialism” to a scathing reception on social media: “dreck,” said the economist Justin Wolfers, while Paul Krugman referred to it as “amazingly dishonest.”
I’m here to tell you that I have read the entire report, and many of the sources it cites, and most of it is correct.