Friday night on the radio, LevinTV host Mark Levin called out self-described “democratic socialists” on the Left and their “hysterical nonsense” with a lesson in how markets actually work.

“These are not smart people; they’re not experienced people. They’re not substantive people,” Levin said.  “They’re demagogues.” He then delved into a lesson on why centrally controlled economies always control people.

In society and economics, “there aren’t simple answers” and “there aren’t experts who can control everything,” Levin explained. “And in the end, it all comes down to tyranny, because it’s a failure.”

“Who is smart enough and bright enough to know the trillions of decisions that are made at any given time?” Levin asked. “They can’t, so they have to control.”

To illustrate his point, Levin played a recorded reading of Leonard Read’s landmark 1958 essay on trade and economics, I, Pencil, which describes all the complex, voluntary economic mechanisms that go into making a simple pencil.

“This is what ought to be taught in our classrooms,” Levin concluded after playing the recording. “And it’s not. Ever. Except in very, very few institutions.”