Tuesday, August 9, 2022

New Harmony's Socialist Experiment failed due to adverse selection

Each year, I begin teaching capitalism to MBA's in New Harmony, Indiana, site of a failed socialist experiment by Robert Owen, a British Industrialist who bought the town from some hard working Germans, and then invited people to his socialist utopia.  He learned something:

"a plan which remunerates all alike, will, in the present condition of society, ultimately eliminate from a co-operative association the skilled, efficient and industrious members, leaving an ineffective and sluggish residue, in whose hands the experiment will fail, both socially and pecuniarily."

1 comment:

  1. Pozdrav svima. Moje ime je Maria Magdalena, samohrana sam majka troje djece, želim podijeliti opipljivo svjedočanstvo o tome kako sam dobila zajam od 10.000 eura uz 3% od bogobojaznog čovjeka, gospodina Mikea Andersona. Ako ste zainteresirani za dobivanje kredita, obratite mu se, uvjeravam vas da je sigurno, hvala. E-mail adresa: (barrmikeanderson48@yahoo.com)

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