In the title of a famous essay written in 1906, Werner Sombart asked, Why Is There No Socialism in the United States? Whether one agrees with his analysis, his premise cannot be disputed: socialism has never enjoyed much of a following in America, except of course among intellectuals. In his vigorous and excellent defense of capitalism, Thomas DiLorenzo dispatches this group of what C.D. Broad called the “clever silly” with entirely appropriate concision.
His principal target lies elsewhere. Most opponents of capitalism profess to be its defenders. The market is fine, these opponents say, so long as the firm hand of government guides it. DiLorenzo is concerned to combat one particular variety of this malign species. FULL ARTICLE