Why Socialism Fails and Free Markets Work: Dr. Doug Cardell on Evidentiary Economics (Ep. 226)

In our final live show of 2025, I battled a few tech gremlins and kicked things off streaming exclusively on Rumble before welcoming economist and author Dr. Doug Cardell to the studio. We dug into what socialism actually is (government ownership of the means of production), why terms like “democratic socialism” are misused, and how socialism’s central planning clashes with the chaotic nature of real economies—much like trying to forecast the weather.

Dr. Cardell explained “evidentiary economics,” arguing policy should follow outcomes, not wishful thinking, and traced how free market capitalism has driven global prosperity by expanding the pie rather than redistributing a fixed one. We talked incentives, black markets under socialism, the difference between self-interest and selfishness, why income inequality naturally emerges from free choices, spontaneous order, and the importance of creating value. He also shared early American collectivist failures at Jamestown and Plymouth and why socialism repeatedly resurfaces despite historical evidence.

We closed with practical takeaways—the ABCs of economics as everyday choices—and Dr. Cardell’s new book, Why Socialism Struggles, available for preorder now. I wrapped with ways to connect with the show, our value-for-value support model, and programming updates as we head into the new year. Thanks for an incredible 2025—see you next year!

Guest:
Dr. Doug Cardell
https://dougcardell.com/

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