The short answer may be simple human nature, our natural tendency toward dissatisfaction with the present and unease about the future. Even in the midst of almost unimaginable material comforts made possible only by markets and entrepreneurs—both derided by socialists—we cannot manage to conclusively defeat the tired but deadly old arguments for collective ownership of capital. We're so rich that socialists imagine the material wealth all around us will continue to organize itself magically, regardless of incentives.

It's a vexing problem, and not an academic one. Millions of young people across America and the West consider socialism a viable and even noble approach to organizing society, literally unaware of the piles of bodies various socialist governments produced in the 20th century. The fast-growing Democratic Socialists of America, led by media darlings Rashida Tlaib and Alexandria Ocasio-Cortez, now enjoy cool kid status. Open socialist Bernie Sanders very nearly won the Democratic Party's 2016 nominee for president before being kneecapped by the Clinton machine. New York City mayor Bill de Blasio helpfully announces "there is plenty of money in this city, it's just in the wrong hands." He freely and enthusiastically champions confiscation and redistribution of wealth without injury to his political popularity.