AUSTRIAN ECONOMICS ADDICT

Some of the first settlements in America were set up as socialist or collective societies. No one owned property. Everyone’s production was ‘given’ to the public store. These early settlements were examples of socialist ideas that Karl Marx popularized in this saying form the mid 1800’s ,”form each according to his abilities to each according to his needs“. These lab experiments didn’t work because, although everyone was willing to consume, not everyone was willing to produce. If these socialist ideals couldn’t work in small groups, where everyone knew each other and had the similar end of just surviving the next day, how can these ideas be expected to work in countries with tens of millions of people who don’t know each other and who desire a variety of ends?

Here is a video from Prager University titled,

AMERICA’S SOCIALIST ORIGINS

Here are some excerpts from my post, The Real Thanksgiving Story: I quote Richard J. Maybury.

“In the harvest feasts of 1621 and 1622, “all had their hungry bellies filled,” but only briefly. The prevailing condition during those years was not the abundance the official story claims, it was famine and death. The first “Thanksgiving” was not so much a celebration as it was the last meal of condemned men.”

“But in subsequent years something changes. The harvest of 1623 was different…….. In fact, in 1624, so much food was produced that the colonists were able to begin exporting corn.”

“What happened? After the poor harvest of 1622…..They began to question their form of economic organization.”…..in 1623 Bradford abolished socialism. He gave each household a parcel of land and told them they could keep what they produced, or trade it away as they saw fit. In other words, he replaced socialism with a free market, and that was the end of the famines.”

Related Article – Private Property vs. Collective Ownership: Which Deals With Scarcity Better Than The Other, at austrianaddict.com.

Related Article – Why Socialism Won’t Work? Human Nature, at austrianaddict.com.

This entry was posted on March 31, 2016 at 7:56 am and is filed under Econ. 101. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: Americas Socialist Origins, Prager University, Private Property vs. Collective Ownership, Socialism, Why Socialism Won't Work