It’s one of the more pitiful aspects of contemporary education that most young people have no clue about the twentieth century horrors of socialism, and think it would actually be a desirable system under which to live. For their sake, and our own, let’s hope they never get their wish. From Richard Ebeling at aier.org:

This August marks the 30th anniversary of the beginning of the end to the Soviet Union. During August 19-21, 1991, hardline members of the Soviet Communist Party and the KGB attempted a coup d’état in Moscow to prevent the political and economic reforms introduced over the prior five years from going any further. The coup failed, and on Christmas Eve, 1991, the Soviet Union was dissolved and disappeared from the political map of the world.
The events of those days are especially imprinted on my mind because I was in Moscow at the time, watching and, indeed, even participating in those August 1991 events. Frequently traveling to the Soviet Union on privatization and market reform consulting work, especially in the, now, former Soviet republic of Lithuania and in Moscow, I witnessed the failed coup attempt and its immediate aftermath.
The Soviet regime had ruled Russia and the other 14 component republics of the U.S.S.R. for nearly 75 years, since the Bolshevik Revolution in November 1917 led by Vladimir Lenin and his communist cadre of Marxist followers. During that almost three-quarters of a century, first under Lenin and especially Joseph Stalin and then their successors, historians have estimated that upwards of 64 million people – innocent, unarmed men, women and children – died at the hands of the Soviet regime in the name of building the “bright, beautiful future” of socialism.
Mass Murder and Slave Labor Under Soviet Socialism
The forced collectivization of the land under Stalin in the early 1930s, alone, is calculated to have cost the lives of nine to twelve million Russian and Ukrainian peasants and their families who resisted the loss of their private farms and being forced into state collective farms that replaced them. Some were simply shot; others were tortured to death or sent to die as slave laborers in the concentration and labor camps in Siberia or Soviet Central Asia known as the GULAG. Millions were slowly starved to death by a government-created famine designed to force submission to the central planning dictates of Stalin and his henchmen.