Inspiration or Distraction: Eugene Debs at the Head of American Socialism 1895-1921

This project seeks to provide historical context for the modern revival of avowed socialism in America through an examination of Eugene V. Debs leadership of American Socialism from 1895 to 1921. The paper argues that Debs’ leadership of American socialism was unsuccessful because he left the critical task of convincing the American people that the ideology of Socialism is correct and fundamentally different from traditionalism, capitalism, and progressivism, incomplete. Reform Socialism did not distinguish itself from local progressivism, and revolutionary Socialism adopted violent, opportunistic methods which prevented broad support. Debs’ unique ideology of Founding ideals, faith in democracy, and total societal transformation stood in the middle of these factions, offering distinction without danger. Unfortunately, Debs permitted party infighting and spent his energies in unwinnable Presidential campaigns. This research hopefully provides insight about the uniquely American challenges and circumstances relating to Socialism, relevant as avowed Socialism has appeared in America once again through Bernie Sanders. Sanders falls into the category of reform Socialism, slowly winning municipal and Congressional elections and fostering Socialism’s positive image. To establish Socialism as a legitimate political entity, Sanders must move farther to the left, to ensure that the mainstream Democratic candidates do not appropriate the idea of free college without accepting its Socialist ideology. Still, Sanders might find himself, like Debs, awkwardly positioned between reformers and revolutionaries, unable to convince America that the idea of abolishing private property will create utopia

Public Principles and Economic Legacy

2018 will mark the 60th anniversary of the publication of Public Principles of Public Debt. The Nobel-prize winning economist’s first book conflicted with the Keynesian orthodoxy of the day, and added fresh ideas to an ongoing debate over the fundamentals of public debt theory. This paper seeks to outline the dialogue among leading economists surrounding public debt since the publication of Public Principles of Public Debt, examining the major schools of thought and their development. The ideas of John Maynard Keynes, James Buchanan, and Richard Barro will receive attention, without neglecting other significant contributions. The paper will conclude by examining current papers in the field of public debt theory, considering them in light of the noted historical ideas. Despite the foundational nature of James Buchanan’s work in public finance, his cautions regarding the assumptions, methodology, incentives, and institutions of public debt, particularly his integration of public choice, are not treated centrally in many ongoing analyses. The empirical nature of much current public debt theory and research has led away from the presuppositional roots of the public debt debate. Renewed awareness of the historical and theoretical realities of public debt theory will be valuable for the field, and can provide reinvigorated application of public choice. This paper works toward those goals, examining the 60 years of public debt theory history since the publication of James Buchanan’s Public Principles of Public Debt and considering current work in the field

Inspiration or Distraction: Eugene Debs at the Head of American Socialism 1895-1921

This project seeks to provide historical context for the modern revival of avowed socialism in America through an examination of Eugene V. Debs leadership of American Socialism from 1895 to 1921. The paper argues that Debs’ leadership of American socialism was unsuccessful because he left the critical task of convincing the American people that the ideology of Socialism is correct and fundamentally different from traditionalism, capitalism, and progressivism, incomplete. Reform Socialism did not distinguish itself from local progressivism, and revolutionary Socialism adopted violent, opportunistic methods which prevented broad support. Debs’ unique ideology of Founding ideals, faith in democracy, and total societal transformation stood in the middle of these factions, offering distinction without danger. Unfortunately, Debs permitted party infighting and spent his energies in unwinnable Presidential campaigns. This research hopefully provides insight about the uniquely American challenges and circumstances relating to Socialism, relevant as avowed Socialism has appeared in America once again through Bernie Sanders. Sanders falls into the category of reform Socialism, slowly winning municipal and Congressional elections and fostering Socialism’s positive image. To establish Socialism as a legitimate political entity, Sanders must move farther to the left, to ensure that the mainstream Democratic candidates do not appropriate the idea of free college without accepting its Socialist ideology. Still, Sanders might find himself, like Debs, awkwardly positioned between reformers and revolutionaries, unable to convince America that the idea of abolishing private property will create utopia