Why Socialism Fails – Part 1

Ken Olson, co-founder of Digital Equipment Corp, said in 1977, “There is no reason anyone would want a computer in their home.” Even very smart people sometimes make statements which, in retrospect, are proven to be ridiculously mistaken. Technology is hard to predict, partly because innovation which drives its evolution is by definition unpredictable. Those foolhardy enough to make predictions about technology get generally ridiculed years later when everyone knows what no one knew before. Hindsight is awesomely accurate while foresight often misses the barn, leave alone the target painted on it.
Continue reading “Why Socialism Fails – Part 1”