Socialism depends upon and presupposes material achievements which socialism itself can never create. Socialism is operative only in wealth situation… - Leonard Read

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Socialism depends upon and presupposes material achievements which socialism itself can never create. Socialism is operative only in wealth situations brought about by motes of production other than its own. Socialism takes and redistributes wealth, but it is utterly incapable of creating wealth.

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About Leonard Read

Leonard Edward Read (September 26, 1898 – May 14, 1983) was the founder of the Foundation for Economic Education (FEE), which was one of the first modern libertarian institutions of its kind in the United States. He wrote 29 books and numerous essays, including the well-known "I, Pencil" (1958).

Also Known As

Alternative Names: Leonard Edward Read Leonard E. Read

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A fact rarely suspected, let alone understood, is that businessmen are by no means the chief beneficiaries of the free market, private ownership, limited government way of life. Many business ventures fail entirely. Who then are the beneficiaries? The masses!

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