I recently read the new biography of Trotsky by Oxford don Robert Service, published in 2009 by Pan Books. It is well-written and surprisingly interesting. The book does a great public service in describing the life of the actual Trotsky, whose previous “biographies” were little more than hagiographies written by his toady worshippers (people like Isaac Deutscher). The last time that I had taken any interest in Trotsky was when I was a teenager and had fleeting delusions of believing in “socialism.” Reading the new book as an adult and as an economist, I found it a useful opportunity to...