Magazine May 20, 2019, Issue

In Defense of Markets: An Introduction

(Luba Myts)

Socialism is back. T. S. Eliot said that “there is no such thing as a Lost Cause, because there is no such thing as a Gained Cause.” We thought our Gained Cause was having vanquished domestic socialism forevermore after the collapse of Soviet Communism in 1989. In the 1990s, Bill Clinton operated within the broad economic consensus established by Ronald Reagan, and when Republicans called Barack Obama a socialist, some on the left considered it a racially charged smear. But here we are: A self-avowed socialist nearly won the Democratic nomination in 2016 and is a serious contender this time. Another socialist, Alexandria Ocasio-Cortez, is the hottest thing in progressive politics today. The Green New Deal and Medicare for All are proposals for sweeping aggrandizements of government power on a scale not seen in this country since the New Deal, if ever. Meanwhile, some on the right are raising questions about free markets, or even rejecting them. If for nothing else, NR exists to stand up for important truths, even when they are embattled or out of favor. It is in that spirit that we publish our next two numbers, a twin special issue making the case for markets (the issue you are reading now) and against socialism (our next issue). If our cause wasn’t nearly as gained as we thought two decades ago, it is incumbent on us to make the argument for it more vigorously than ever. Thanks for reading.

In This Issue

In Defense of Markets

Books, Arts & Manners

Sections

The Week

The Week

Until Biden’s poll numbers come down, we advise the women of Iowa and New Hampshire to keep their distance.

Most Popular

Culture

Why Progressives Wage War on History

Princeton University’s decision to remove the name “Woodrow Wilson” from its School of Public and International Affairs is a big win for progressive activists, and the implications will extend far beyond the campus. It hardly surprises me, in today’s polarizing environment, that my alma mater caved to ... Read More
Culture

Why Progressives Wage War on History

Princeton University’s decision to remove the name “Woodrow Wilson” from its School of Public and International Affairs is a big win for progressive activists, and the implications will extend far beyond the campus. It hardly surprises me, in today’s polarizing environment, that my alma mater caved to ... Read More

Patriotism Is Becoming ‘White Supremacy’

Never before has a speech extolling America’s virtues and the marvels or the nation’s heroes played to such poor — and completely dishonest — reviews. At Mount Rushmore on Friday night, President Trump gave a speech that was very tough on the woke Left, while largely celebrating America — its ... Read More

Patriotism Is Becoming ‘White Supremacy’

Never before has a speech extolling America’s virtues and the marvels or the nation’s heroes played to such poor — and completely dishonest — reviews. At Mount Rushmore on Friday night, President Trump gave a speech that was very tough on the woke Left, while largely celebrating America — its ... Read More
U.S.

Bad News about the Virus

On the menu today: an important update about indications that the coronavirus is now more contagious than it used to be, with far-reaching ramifications for how we fight this pandemic; a point on the recent complaints about the Paycheck Protection Program; and a new book for everyone closely following the debate ... Read More
U.S.

Bad News about the Virus

On the menu today: an important update about indications that the coronavirus is now more contagious than it used to be, with far-reaching ramifications for how we fight this pandemic; a point on the recent complaints about the Paycheck Protection Program; and a new book for everyone closely following the debate ... Read More
Politics & Policy

Washington vs. Violent Crime

In New York City, 49 people were shot over the holiday weekend. The death count, so far, is eight. With 101 shooting victims in the last week, shootings are up 300 percent over the same period last year; for the full month of June, they reached a level not seen since 1996. Even before this latest bloodbath, ... Read More
Politics & Policy

Washington vs. Violent Crime

In New York City, 49 people were shot over the holiday weekend. The death count, so far, is eight. With 101 shooting victims in the last week, shootings are up 300 percent over the same period last year; for the full month of June, they reached a level not seen since 1996. Even before this latest bloodbath, ... Read More