In this article for The New York Times, political economist, historian, and co-founder of the Democracy Collaborative Gar Alperovitz, along with the Democracy Collaborative’s director of research Thomas M. Hanna discuss socialism in 21st century America. In a surprising twist on stereotypical party line pursuits, conservatives have begun to embrace public ownership because it produces profit, meaning they do not have to rely on taxes to raise money. As more people begin to skeptically evaluate capitalism and our current system, there is and will continue to be a call for public ownership and new forms of economy.
The great 20th-century conservative economist Joseph Schumpeter thought the left had overlooked a major selling point in pressing the case for public — i.e., government — control over productive capital. “One of the most significant titles to superiority,” he suggested, was that public ownership produced profits, which means not having to depend on taxes to raise money.