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Friday, March 29, 2024

Reader asks “Is the Khan Academy’s Free Education Policy Socialistic?” Is Mish a Socialist?

Courtesy of Mish.

Reader Drew wants to know if the Khan Academy’s free education policy is socialistic.

Although unasked, the same question seems to apply to me.

Reader Drew writes …

Hi Mish

I know you are a fan of Sal Khan and Khan Academy. I’m wondering if you were aware of his background, his brilliance, and his decision to give away his courses for free.

My question is do you consider what he is doing socialism? How does one explain his decision not to use his brilliance for personal gain and instead to donate his time and energy on something he gives away for free? Isn’t that a contradiction of capitalism?

Many thanks.

Drew

Definition of Socialism

What’s contradictory about it?

To address that question, please consider a Definition of Socialism.

Socialism: a way of organizing a society in which major industries are owned and controlled by the government rather than by individual people and companies.

In the modern era, “pure” socialism has been seen only rarely and usually briefly in a few Communist regimes. Far more common are systems of social democracy, now often referred to as “democratic socialism,” in which extensive state regulation, with limited state ownership, has been employed by democratically elected governments (as in Sweden and Denmark) in the belief that it produces a fair distribution of income without impairing economic growth.

In general, socialists believe in higher taxes and equatable distribution of wealth via government ownership, wealth redistribution schemes, and higher taxes on the wealthy.

Giving away things for free does not make one a socialist.


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