If you want to see modern-day socialism in action, look no further than to the other side of the pond at not-so-jolly old England. The story of Britain's decline is a warning signal to those here in the States who are thrilled by the warm embrace of socialism.
Right now, the Brits are having the same debate about the merits of socialism as we are in our major cities and blue states. In England, the foppish Prime Minister Keir Starmer of the Labour Party is out. But instead of turning to the right, it appears the UK will swerve further to the collective ownership of the left. Andy Burnham -- the former socialist mayor of Manchester (Britain's Zohran Mamdani) -- is next in line. God save the queen.
As Greg Ip of The Wall Street Journal reports, "Burnham's socialism is the real deal. He wants the state to control more of the means of production. ... (H)e advocates public ownership of water, housing, energy, and transportation." Burnham calls it "business-friendly socialism."
Sure. That will make the trains run on time.
What short memories. After World War II, the Brits experimented with creeping socialism for more than three decades. The Labour Party handed over to public bureaucrats and unions the means of production: the Bank of England, the coal mines, the airlines, iron, steel, and phone service, to name a few. Prices soared, nothing worked, unemployment lines lengthened, and the Brits got a lot poorer.
Britain's share of world output fell by half, from more than 10% to less than 5%. About the only thing Britain had going for it was four lads from Liverpool called the Beatles, who singlehandedly brought deep pride back and caused a mini-stimulus. But in the 1970s, the downturn worsened.
We interrupt this story with the election of Margaret Thatcher in 1979. She saved the kingdom by slashing taxes and privatizing everything she could get her hands on. It was the precursor to Reaganomics.
That didn't last long. Now it's Thatcherism in reverse -- just as the left in America wants to reverse the Reagan and Trump legacies of deregulation, lower taxes and sound money.
What seems to be driving this leap toward "democratic socialism" on both sides of the Atlantic is a middle-class fury over inflation. The idea of free food, housing, child care and health care is alluring.
But prices have risen not because of a failure of capitalism. It was mostly caused by massive money printing, widespread shutdowns of private industry, retail businesses and schools, and stay-at-home orders during COVID-19. The government became the provider, and the leap forward in state expenditures was never entirely extinguished.
In both the U.S. and in England, the "affordability crisis" is mostly in government-owned, government-operated, or heavily regulated businesses. In the U.S., that's health care, education, and college tuition. In Britain, it's those industries plus energy, housing, and child care.
There is an infestation of socialism in Britain that has sucked the dynamic and wealth-producing spirit out of the UK. We need a socialism vaccine in America.
Stephen Moore is a former Trump senior economic adviser and the cofounder of Unleash Prosperity, which advocates for education freedom for all children.
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