Betsy Newmark writes that socialism’s last gasp is rapidly coming to an end:
When Israel was founded, socialists idealists thought that founding collective farms – kibbutzim – would be a foundation on which to build their economies. Now, decades later, they’re finding that socialism just didn’t work out. One by one, those kibbutzim are being privatized.
As Betsy writes, “They can’t reform human nature. People found that they didn’t like it that they got the same financial reward as people who worked less and so they worked less. Adam Smith wins again”.
As he always does–but sometimes it takes longer than others.