15-46 Economics Intelligence | The Only Way Socialism Works (It Doesn’t)
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Show 15-46 Summary: People who fail to understand how economics works vote for socialism. Which says all you need to know about the New York City and Seattle elections last week. Socialism is unique in that it is the only form of slavery that people voluntarily vote themselves into. There is one way socialism works. But it doesn’t on its own. Find out more as we talk with Jonathan Williams, president and chief economist of ALEC. After weeks of success, Trump has floated some bad ideas lately. What is happening and why?
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Air Dates: November 15th & 16th, 2025 | Guest: Jonathan Williams
This Week – Economics, Socialism, and Elections
Plato, some 400 years before Christ, said of Greece’s democracy, “One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors.” And that’s true. Similarly, One of the penalties for refusing to understand how economics work is you end up voting for socialism. Which says all you need to know about the New York City election last week.
Socialism is unique in that it is the only form of slavery that people voluntarily vote themselves into. And that happens because people who fail to understand how economics works vote for socialism. Nothing is free. To say otherwise is a lie.
Socialism promises free. But note they never promise freedom. Because by definition, you can’t have freedom if you’re dependent on the government.
But host, Mark Anderson predicts New York City’s socialism will succeed. For a little while. Why? For the simple reason the democrat socialists, cannot allow socialism to fail publicly on the world’s largest stage in what used to be the heart of capitalism.
What’s Happening with Trump?
Trump’s tariffs have been massively successful. They have brought in some $200 billion while getting more exports and better trade deals. Plus, the massive price increase that democrats hoped for never happened. But in the middle of that, the Supreme Court has taken up tariffs. Could they be about to upend all that good? And give the power to negotiate trade deals to Congress? Really? They couldn’t even keep the government open.
But those tariffs proved that Trump is usually right. Remember how many people were against them? Trump usually has really good ideas. Brilliant ones. But every so often, after weeks or even months of success, he floats some real stinkers. A 50-year mortgage? Tariff bonus checks — while we’re putting more than $2 trillion on the nation’s credit card every year, and $38 trillion in debt?
But he’s still putting out good ideas. Like the idea to move Obamacare payments away from insurance companies and send it directly to people, which will increase competition and reverse the free-market abuse Obamacare unleashed on healthcare.
Once again, with their shutdown ransom demands for $1 trillion of free money (there’s that “free” again) for Obamacare subsidies, Democrats may have backed themselves right into a trap. Because they agreed to end the shutdown in exchange for a debate about spending even more on the “Affordable” Care Act. It was never affordable. Just like nothing socialism offers is ever free.
Get a little more intelligence on economics. So you don’t vote for socialism.
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Show Notes: Research, Links Mentioned & Additional Info
- Jonathan is the president and chief economist organization at American Legislative Exchange Council. Find out more at ALEC.org.
- Encourage your representatives to join ALEC! There are state and city memberships. Help elected officials understand economic problems and the real solutions available to get out of them. Send them this link: https://alec.org/membership/.
- And you too can join as a private-sector member!
- Follow Jonathan on Twitter at @TaxEconomist.
- Head to Rich States, Poor States to see how your state is doing.
- Job cuts in October hit highest level for the month in 22 years, Challenger says (MSNBC, Nov 6, 2025)
- Layoff announcements soared in October as companies recalibrated staffing levels during the artificial intelligence boom, a sign of potential trouble ahead for the labor market, according to outplacement firm Challenger, Gray & Christmas.
- Private payrolls rose 42,000 in October, more than expected and countering labor market fears, ADP says (MSNBC, Nov 5, 2025)
- VIDEO: ‘I Don’t Understand’: Barrett Grills Lawyer Arguing Against Trump’s Tariffs About IEEPA Authority (Forbes Breaking News YouTube Channel, Nov 7, 2025)
