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The End of Democratic Socialism

Written By: Monty Pelerin  |  Posted: Tuesday, June 8th, 2010

The end of democratic socialism is at hand. The welfare states of the U.S. and Europe are financially out of control, spent and unsustainable. They have reached the point that Margaret Thatcher defined as the end of socialism: They have run out of other people's money. These areas of the world are about to change dramatically.

Victor Davis Hanson has a piece in National Review Online focused on Europe. His comments, while directed at Europe, are also applicable to the United States. Hanson states:

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