Free the People
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The Knowledge Problem: Why Socialism Always Fails
Posted
September 25, 2025
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2,145
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September 25, 2025
2,145
69
18
4.06%
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14:25Now PlayingIn Round 7 of Wrestling with Economics, Matt Kibbe and Glenn Jacobs—Knox County Mayor and former WWE wrestler—examine why central planning, better known as socialism, can never work. As Ludwig von Mises argued in his landmark book Socialism, no group of planners can ever possess enough knowledge to coordinate the countless variables in a modern economy. In the United States alone, 330 million people make billions of decisions every day, each reflected in real-time through the price system. Prices act as signals, guiding resources to where they’re needed most. Socialism disrupts those signals, leading to inefficiency and chaos—often compounded by the all-too-human tendencies toward corruption and bad incentives.
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Free the People’s mission is simple—to make the values of liberty entertaining, accessible, and human. Free the People deliberately explores issues that bridge the partisan divide—topics like criminal justice reform, health care choice, and opposing corporate cronyism. We produce documentary films, video web series, and podcasts that illuminate the people and ideas changing the world for the better. We reach audiences across the political spectrum as a rational but passionate voice for liberty.
Free the People specializes in video production, creative storytelling, and social media engagement. We are building a community of people who believe in the values of freedom, entrepreneurship, individual responsibility, choice, and peaceful cooperation. Free the People finds and tells stories of people affecting positive change in their community through entrepreneurship and innovation. We defend free choice in everything from drug policy, to health care and retirement, to every aspect of the sharing economy. Our values, like "equal treatment under the law" and "innocent until proven guilty," animate fights for criminal justice reform. We tell the stories of people who have lived through the hardships of authoritarianism and collectivism throughout history. We show our viewers that beautiful things can happen when free people come together to make the world a better place.
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