American Elephants

From William Voegeli’s Never Enough:

“The socialist dream of organizing an economy around the purposes of advancing social welfare, as it is governmentally determined and meted out, seems destined to remain an abstraction, irrelevant to the world’s political and economic needs. One strange result of the collapse of socialism, and the absence of any other credible way to avoid relying on markets is that the welfare state is heavily dependent on the health of capitalism. The government cannot disburse wealth that never gets created, and creating the wealth required for modern, prosperous societies without the knowledge conveyed by prices set in markets appears to be impossible.”