A collective amnesia sees a return of the Soviet Union's failed policies in a Marxist Labour party in Britain. Increasing socialism is expressed by US Democrats contending for the primaries.
This article explains the basic economic fallacies common to both. It clarifies why state ownership of the means of production does not resolve the problem of economic calculation in a socialist economy. It also explains the errors in socialistic condemnation of free markets.
And finally, it points out that very few of us realise we are more socialist than we think when we endorse government control of possibly our most important common commodity, which is our everyday money. But there is a simple solution: stop accommodating crony capitalists.