Modern Life, Political Theory, Politics

A Rebuttal to Ten Things Millennials Should Know About Socialism by Thomas J. DiLorenzo

Full Video Below


I recently watched a talk on Mises media by Thomas J. DiLorenzo and he talks about his book 10 things Millennials should Know about Socialism. I thought it would be a interesting video to watch as I am: A. a Millennial and B. a  Socialist. Therefore I could give some insight.


2:24-2:37 Here he states that socialism is “government ownership” of the means of production, and government run industry. Number 1 this is not socialism defined, as socialism is defined by everyone else in the world as: a political and economic theory of social organization that advocates that the means of production, distribution, and exchange should be owned or regulated by the community as a whole. Well often the government can sometimes represent the workers this often fails due to it not being as I would define socialism as the “workers controlling the means of production and distribution.” In a capitalist society, the capitalist class, the CEOs and boards of directors have control of production, or the workplace, which is basically the same. Workers would control what they make and how it used, like going to the NEEDs of society, rather than the profits of the owners.


Well first if we talk about state run enterprises, first this is not socialism, as the government is not the workers, and it does not go to the needs of society but still profit.


3:20-3:27 Apparently now socialism includes everything the government does like taxes and welfare.


3:30-3:43 Yes taxing rich people more,  when they have more money is bad because then we can’t have excessive income inequality! He also is red baiting here by comparing Bernie Sanders to fucking Karl Marx and the Communist Manifesto. Yes, Marx wrote that Progressive income taxes were needed but he also wrote about abolish private property, but when he talks about private property he doesn’t mean everything you fucking own! He’s talking about the workplaces and the concept of profit.


3:45-4:38 Well I have not read Mises socialism to be honest, but the idea that somehow having regulations and the government doing things destroys the free market is ridiculous. It’s ridiculous for the idea that somehow markets will work on there own when reality is they are organized by how government wants them to work, so when mises talks about no intervention, he wants government to not provide welfare to poor people, make sure access to healthcare is only for rich people and education is only for those with the money to afford it.

The idea that state run schools brainwash children to the Virtues of socialism is absolutely hilarious. They do not in anyway do that. This is from personal experience and interaction with many other people in other schools, but if anything schools red bait and teach us that socialism is bad and communism is bad, that left wing ideas are bad. Especially in history class when students learn about the Cold War and the Red Scare. They teach children young on that socialism and communism are bad because of the  Soviet Union, that socialism is the opposite of freedom, but freedom is to buy things and work for somebody else who decides how much you make, and a workplace where you have no say.  The reality is you have no freedom under capitalism, the only ones with freedom are those who have the most capital. More they have the Freer they are.

5:24-5:38 No just no stop. The Democratic Party is not socialist, for god sakes they’re barely socially liberal, the only one who’s somewhat left wing is Bernie Sanders but he’s just a New Deal Democrat  and the Republican Party is Far Far Far Right, They are extreme, they want to cut everything from getting rid of the mediocre Obamacare to getting rid of Dodd-Frank, to Privatizing the National Parks. The Republican Party is not at all leftist, but maybe to somebody with extreme crazy and unrealistic ideas they are fucking communists!

5:50-7:11 well the Soviet Union is socialist in name only. But ignoring that fact alone the Soviet Union, The People’s Republic of China all went from being poor weak countries to global superpowers. So don’t give that bullshit that they have weak ecconmies and that “socialism” is bad for your economy. Just a simple wikipedia search and you can find that USSR was only slightly behind America when it comes to GDP.


8:14-8:22 Argentina and Venezuela Oh my God,

9:40-10:00 here he talks about the classroom experiment where if you take kids grades and you give them all the same grades or you take away from them this will discourage them from working hard and so no one will work hard. Number 1: Distribution is not socialism, that’s welfarism, number 2: your argument is basically a straw man, that states there’s no effort if you don’t get a reward, apparently grades and money are your only rewards, again this is wrong. You can be rewarded also by the enjoyment of something and also, which is often forgotten, your connections with other people. This has been done in numerous social experiments



10:37-11:00 “You don’t have the Guidance of free market prices” he states this as if prices just magically are something in the natural world, um buddy, prices are set by business and pre determined by CEOs, they don’t just make themselves in the woods of fairy land. In other words the quote “Guidance” is literally what the CEOs say, and what benefits their pockets. Supply and demand are not natural factors and once more Socialism has nothing to do with this, if anything socialism would help supply and demand as their would be less waste and something which you seem to have forgotten called overproduction, where you produce too much and it gets wasted because people without money or enough money can’t buy the product.

11:08-11:09 still has not destroyed every economy where it’s been tried, Soviet Union second largest GDP from 1960 to 1980.

11:15-12:40  The Myth of Democratic Socialism and socialism, they’re the same thing apparently. No this is pure dogshit. Not only is that ignorant of basically political theory, but social democracy is not democratic socialism, as social democracy does not look to create democratic workers control of their workplaces or a needs based ecconomy but it looks to work within capitalism. Marxist-Leninism is not the same as democratic socialism, Marxist leninism is the dictatorship of the workers, and maoism is different too. Democratic socialism would mean the people would have a say in how their ecconomy works rather than it being controlled by ceos and they just being told what to do by their bosses.  So saying these things are all the same, is stupid and ignorant

12:48-Obamacare is not a form of socialized medicine… it’s a mandate, that’s it, the government isn’t even providing it, so how is this socialism in your warped view, apparently the government existing is socialism.

13:30-14:16 ah yes back to Venezuela, oil prices went down and they were hit by the 2008 crisis, not due to socialism,  that which is why they were soaring in early from 2003 to 2008. Well again this is not really socialism at all,  its also do to the IMF supported policy of overvalued fixed exchange rates, like Argentina, Russia, brazil, russia, asian financial crisis, neoliberal imf backed policies. This is due to IMF fucking with the central bank as well. The united states has been trying to topple this “socialist” government, just like Allende, and Mossadegh, anyone who stands in the way of US and its oil will be taken out in a coup d’etat. It was not socialism that has destroyed latin America but US imperialism and the IMF and economic capitalist crashes, you know those things that happen when markets fail.

14:35-15: “Sweden was very prosperous” Apparently having a bunch of inventors from your country and not having “socialism” means your prosperous. Sweden GDP per capita is about 50,000 dollars today and USA is 55,000 dollars per capita, which is on Average, that being shown, Sweden has much less income inequality when you compare its overall GDP which is some 500 billion and USA is 17 trillion, which shows the vast wealth gaps. Sweden has nearly 0 percent job growth, because low of  72 to high of  76 percent of the population are employed and thats consistent and one of the top highest employment rates in the world. America goes from a low of 61 to a high of 74. Sweden interest rates are at a record low.


17:00 70 percent income tax on super wealthy people is slavery, minus the fact that they still get 30 percent of their wealth which is still pretending that again they don’t already have millions of dollars.


18:00 the idea that socialism eats away at democracy is totally bullshit, if anything socialism is democracy, again though apparently DiLorenzo definition of socialism is that anything the government does is socialism, rather than workers controlling their workplaces and distrubution of production.


20:00-20:50  “the push for equality is a war on labor, division of labor, socialism is an attack on the division of labor. Capitalism keeps humans civilization together.”

War on international division of labor, which is again the capitalist system. Marx attacked labor as no more than slavery, as wage slavery, that it forces people to do things they wouldn’t themselves choose to do, but have to do because otherwise they’d starve and die. They do things for meaningless capital that keeps them alive. Capitalism does not keep human civilization in tact but it keeps hierarchy it tact. Oppression is kept in place and the social order of the ruling elites is kept in tact. Socialism attacks the oppression of the workers and looks to change the power structure and take it away from the elites and give it to the people. If you’re against that then you do not favor democracy or freedom.


23:20 Fascism is not collectivist


23:27-23:50 the amount of irony here shocks me, literally he talks about the state creating propaganda and it being peddled through the media, much like neoliberal economics, and he says that if you don’t agree with the state’s definition of truth you are scrutinized and dealt with, much like how he is dealing with socialism and how it doesn’t fit his definition of truth. So he is demonizing it and making sure to demonize those who agree with it.


25:52- 26:56 I agree shockingly and this is one of my main criticism of state socialism, is that it replaces one ruling class with another, however apparently your problem is that they didn’t create anything of “value” they just stole all the money. Well that’s basically what profit is, CEOs take the money they could’ve given the workers and give it to themselves.


27:00-27:48 he literally just made an argument for regulations by stating that there’s no middle class that’s the model everyone is rich and poor in Latin America and India, well thats not do to socialism but Neoliberal so called laissez faire capitalism. It’s the result of no regulations and no workers rights, as well as IMF loans and US meddling.


27:52-28:24 Another point I agree with about mass genocides, but not because of socialism, but because of Totalitarianism, which is where a government controls every aspect of someone’s life. I myself am equally critical of totalitarians both of left and right.



31:00-31:10  “Fascism is a form of Socialism” that’s the dumbest statement in history, that’s exactly why Hitler hated Marxist Socialists and murdered them in the holocaust,  and used the title National Socialist to get the support of confused lefties, he was a socialist in name only.


33:27- 33:36 Well Fascism spawns directly as a result of policies of Laissez Faire Capitalism, which is why fascist hate it. Fascist also oppose individual freedom and believe the government is superior, again though this is not socialism, but why at this point beat a fucking dead horse.


34:00 Just because someone criticizes you and you don’t agree with them does not mean all your enemies are the same, they disagree with you for different reasons, but if you don’t recognize this than you can never correctly defeat your enemy.


35:00-36:00 again just because something is nationalized doesn’t mean its socialist, it depends on how it’s used. The nazi were less pure market capitalistic as one would say but than again Laissez faire capitalism is basically something you cannot find anywhere, as even Mussolini who was “corporatist”. Where corporatism is merger of state and business, so its basically capitalism, but more of a end result. These are just different words for capitalism these things are virtually the same.


36:00-36:46 I think that demonizing the poor in this way is something but he does make somewhat of interesting point about welfare and an actual legitimate criticism, we should look at the reasons of why people don’t want to work, rather than just throw them off of a program and say its because they’re lazy. Maybe it’s due to their lack of freedoms at work or the increasing alienation? Or the fact the Wages are very low.


37:00- 38:30 None of these things are because of welfare… rather capitalism which creates the material conditions,and creates poverty. If events are negative, than they will have negative effects on people.


39:00 Point 9 progressive income tax is poison. Well no it’s more about fairness and making sure the super wealthy actually pay their fair share and helping out the poor or those who are having a rough time, due to again the rich people in society, paying low wages, or moving work overseas because labor is cheaper, or as we are more recently seeing, replacing workers with machines. Very rarely is it due to people not wanting to work, if someone tells you work for me and be slightly better or live a miserable standard of living, unless you have disabilities when given the option people will choose to not die, its survival, but people need that option or opportunity available to them.


42:00 the income tax creates a new centralized power, and income tax gives government more power.

43:44 And he ends the video with his bit of “socialism”, by ironically giving out free copies of his book.


Well I survived that bit of fucking cancer, a long dull and incredibly stupid fucking video, full of logical errors and factual inaccuracies meant to intentionally confuse people. I always find it ironic that institutions like Mises criticize governments and those they deem with power, without ever realizing that they promote ideas of economic totalitarianism.  If you like this post, let me know below and I’ll try to find more videos like this one to do.



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