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.

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.

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