For folks who aren’t busy with last-minute Christmas shopping (this book is a great gift), here’s a video looking at economic myths.

The video begins with Professor Ben Powell debunking five myths about socialism.

And it ends with me debunking seven myths about capitalism.

Though if you don’t have 24 spare minutes, you can simply compare the market for bread in socialist countries and capitalist countries.

Or look at graphs comparing living standards in East Germany and West Germany. Or North Korea and South Korea.

For what it’s worth, I think readers should watch at least 13 minutes of the video, because that’s when you get to the part about the economy not being a fixed pie.

This is a point I made a couple of years ago when speaking in Poland.

And the data from the U.S is a good example. Today’s Americans are far richer than their ancestors.

In other words, our friends on the left are wrong to think the economy is a zero-sum game (though it will become that way if their policies are adopted!).

P.S. In a voluntary form of recycling (far better than the government version), John Stossel created the above video by combing these three videos from 2021.