The famous Spanish economist Jesus Huerta de Soto understands socialism very well. He published a book about it where he defines the monster as follows: We consider that socialism is any system of institutional aggression on the free exercise of human action or entrepreneurship. De Soto considers any such system to be socialism except of course the one he is advocating… himself. In his plan for financial reform Jesus Huerta de Soto suggests 5 stages of legislative interventions, bank reforms and inflation shocks that lead to a world system where inflation/deflation and economic crisis will be impossible. For the socialists...