Welcome back to Fraser Insight, the Fraser Institute’s U.S.-focused newsletter. This summer issue of Insight highlights an important collection of writing and studies related to the revived appeal—and utter failure—of socialism.

Our In Focus section, which always showcases in-depth research and analysis, headlines the collection with a new book that uses Poland’s socialist experiment to document and discuss the wide chasm between the lofty goals of socialist ideology and the realities of socialism in practice. “The experiences of the Poles, like those of so many behind the Iron Curtain, demonstrate the value of economic freedom, the immiserating consequences of its denial and the often-painful process of regaining lost freedoms,” the authors conclude.

The discussion and examination of socialism continues in our In Print section, which includes timely commentaries and op-eds. In addition to pieces on the failures of socialism and an analysis of polling related to socialism, this issue features essays covering climate-change falsehoods and AI alarmism.

Finally, our In Context section highlights the latest additions to our growing library of Essential Scholars podcasts. New segments include interviews with economists and historians discussing Adam Smith, James Buchanan, Rose Friedman and Paley Marshall.

We encourage you to share Insight with friends and colleagues by inviting them to sign up for Insight here. Visit our website, which serves as a storehouse for cogent commentary and in-depth analysis—all from a free-market perspective. Follow us on Twitter. Join us on Facebook. And check out the In Touch section for more contact info.

Supporters of socialism tend to favor a new, redefined type of socialism characterized by governments providing more services and/or a guaranteed annual income, but they generally do not favor broadly- applied higher taxes.

The dream of socialism was alive and well long before Karl Marx and Friedrich Engels gave it new life in their writings. But in distinguishing their ideas from what they believed to be the “utopian socialism” of earlier thinkers, Marx and Engels styled their own brand of socialism as “scientific socialism.” Their version of socialism, they asserted, was informed by sound theory, not sentimental hopes.

Economists at U.S. investment bank Goldman Sachs estimate that AI could disrupt up to 300 million jobs worldwide within the next few years. Among the sectors most likely to be affected are finance, publishing, law, education, customer services, market research and other industries where large numbers of employees assemble, analyze and disseminate information. However, consistent with past waves of technological innovation, the spread of AI will also spur employment growth in some industries and alter many current jobs.

Forest fires are not only natural but essential to the life cycle of the forest ecosystem. Unfortunately, politicians, reporters and climate activists rushed in to exploit an unusual recent flareup to push their agenda.

Is it clear that Canada’s fire issues are climate-driven? Unless one believes that inverse correlations suggest causality, the answer is no.

Climate activists believe the term “natural gas” carries overly positive connotations that interfere with the ongoing crusade to phase-out fossil fuels. Hence, what was dubbed “clean-burning natural gas” by environmental crusaders of the 1980s, eager to see it taken up by city bus fleets in polluted places such as Los Angeles, should now be called “fossil gas” or “methane gas” because those terms will not be perceived as environmentally positive.

There’s good evidence showing the effect of climate change on economic growth will likely be insignificant and may even be positive. And there’s significant variation in the effect of climate change across regions.

New research shows that climate models have a pervasive global warming bias.

For four decades during the latter half of the 20th century, Poland and its people were the subjects of a grand socio-economic experiment. Under the watchful eye of its Soviet masters, the Polish United Workers’ Party transformed the mixed economy of this nation of 35 million into a centrally planned, socialist state (albeit one with an irrepressible black market). Then, in the closing decade of the 20th century, under the leadership of Minister of Finance Leszek Balcerowicz, Poland was transformed back into a mixed economy. In this book, documenting the results of this experiment, we show that there was a wide chasm between the lofty goals of socialist ideology and the realities of socialism the Polish people experienced. We also show that while the transition back to a mixed economy was not without pain, it did unleash the extraordinary productive power of the Polish people, allowing their standard of living to rise at more than twice the rate of growth that prevailed during the socialist era.

Because people have differing views about what “socialism” and “capitalism” are, they often find themselves talking past one another. A supporter of socialism might claim that capitalism is principally about enriching oneself regardless of the consequences for others or for the environment, while a supporter of capitalism might claim that socialism is about empowering authoritarian government agents to invade the rights of citizens and enrich themselves and their cronies at others’ expense. If those are their starting points, neither of them may have the mental space to agree that the other’s position could have arguments worth considering. If we wish to enter into this debate in good faith, then, we first need to get our definitions straight. What exactly do we mean by “capitalism,” and what do we mean by “socialism”? We also need to understand what the goals are that our system of political economy should champion, and what the ranking is of those goals.

English philosopher and political economist John Stuart Mill argued that people learn by choosing, which is how they become creative and productive individuals. For this reason, and because he felt that individuals are typically the most capable people to make their own choices, Mill was highly skeptical of restrictions on choice placed by a third party, such as the state. While the cases Mill uses in On Liberty clearly pertain to nineteenth century concerns and thus seem dated, his blueprint for how we think about and possibly intervene over potential harms nevertheless sheds light on contemporary issues, such as gun control, free speech, and even the recent COVID-19 mandates.

Our Essential Scholars podcast series includes fresh interviews with experts discussing Adam Smith, the UCLA School of economic thinking, Rose Friedman and other key women in the study of free-market economics, and James Buchanan. Hosted by economist Rosemarie Fike, the podcast collection is rapidly building toward a library of 30 thought-provoking interviews. To make sure you don’t miss an episode, subscribe at Spotify, Apple, Google, Amazon, Deezer, iHeart or Stitcher.