Socialism is the Democratic Party’s hot “new” direction, though there seems to be some disagreement about just what “socialism” means. Whether it’s “only” a vastly expanded welfare state tacked onto a capitalist economic engine or whether the government takes ownership of the economy’s “commanding heights” is yet to be determined. Either way, the vision entails government redistribution of wealth to ensure that it is more equitably allotted.

But will redistribution really result in more equality? It might, in the sense that the richer will likely be made poorer, but more redistribution will certainly result in more corruption. The issue is one of incentives. What incentives do the following economic actors have?

In this Conversation, businessman and best-selling author Edward Conard shares his perspective on how America can can sustain economic growth, spur innovation, improve productivity, and ensure greater prosperity for the middle class.. Conard counters the commonplace view, today, that the American middle class has been hollowed out and that economic mobility has stagnated. While recognizing a slowdown in productivity and growth in recent years, Conard considers the overall strength and diversity of the American economy, and the relative growth in middle-class incomes in America compared to peer groups in Europe as well as Japan. According to Conard, we must prioritize innovation and growth in order to meet today’s challenges—and he cites America’s opportunity to increase high-skilled immigration as the single best way to jumpstart innovation and productivity now and in the years to come.

“Smith,” I said, lowering the Wall Street Journal to address the gentleman seated in the easy chair opposite mine. “This headline says, ‘Trump tariffs likely to hit consumers mostly.’ Is that true?”

Smith didn’t look up from the chess problem he had set up on the board in front of him, but only grimaced in a way that meant that I had just asked a stupid question. To my right, another fellow said, “Oh, Camper! I was so absorbed in this book I didn’t even see you come in. Shouldn’t you be home with that beautiful wife of yours at this time of the morning?”

View original artwork here.

“My definition of a free society is a society where it is safe to be unpopular. Where it is safe to say what’s on your mind, especially when everyone disagrees. Where it’s safe to believe what you believe, especially when everyone else’s beliefs stand elsewhere.”

Hint: Not a Republican
Hint: Not a Libertarian
Hint: Not a Democratic Socialist