Mark & Jo Ann Skousen on Democratic Socialism and Democratic Capitalism

Buena Vista, Va.—At this week’s campus-wide forum, Chapman University Professors Mark and Jo Ann Skousen shared their perspectives on Democratic Socialism and Democratic Capitalism with students, faculty, and professional staff.

Mark Skousen, a nationally known investment expert and award-winning economist, previously taught at Columbia Business School and currently teaches at Chapman University, where he is a Presidential Fellow and was voted “My Favorite Professor Award” in 2019.

“I’ve been teaching economics, business, and finance for over 30 years,” said Skousen. “It’s great to see the eyes of the students light up when they see something new they haven’t thought of before.”

During his remarks, Mark Skousen shared his perspective on the advantages of free markets, common to capitalism, over a central planner, common to socialism.

“In terms of the production, quantity, quality, and variety of goods and services,” explained Skousen, “there is nothing like capitalism that can produce the iPhone, HDTV, or the opportunity to fly anywhere in the world within 24 hours.”

Jo Ann Skousen, an author, editor, and English lecturer at Chapman University, focused her remarks on the outcomes of socialism and the connection between incentives and production.

“Winston Churchill said, ‘The inherent vice of capitalism is the unequal sharing of blessings. The inherent virtue of Socialism is the equal sharing of miseries,’” explained Jo Ann Skousen. “And why is it that happens? It’s because the production goes down.”