American socialism revisited: “Lefty” Hooligan, “What’s Left?”, October 2021

Socialism for the rich; capitalism for the poor.

It’s an oft-repeated Leftist cliché that encapsulates an entire socio-political-economic analysis in a single sentence. It was first promulgated by Michael Harrington and frequently repeated by the likes of Noam Chomsky, Bernie Sanders, and Robert Reich. The gist of this argument is that capitalist corporations receive government largess in the form of subsidies, tax breaks, and favorable legislation while the general population is left to fend for itself. Big business regularly receives favorable treatment and corporate welfare from the government which allows corporations to “privatize profits and socialize losses.” The rest of us are shit-out-of-luck.(1) Continue reading

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  • "I had a good run." —"Lefty" Hooligan, "What's Left?"

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