Jan 20, 2019 | Economics, Socialism
When it comes to choosing between socialism and capitalism as an economic system, the problem is somewhat different. The authors of socialism never suspected that modern industry, and all the operations of modern business, are based on calculation. Engineers are by no...
Jan 20, 2019 | Communism, Economics, Europe, Socialism
The socialist system, however, forbids this fundamental freedom to choose one’s own career. Under socialist conditions, there is only one economic authority, and it has the right to determine all matters concerning production. One of the characteristic features of our...
Jan 20, 2019 | Economics, Europe, Inequality, Socialism
In the market economy, everyone serves his fellow citizens by serving himself. This is what the liberal authors of the eighteenth century had in mind when they spoke of the harmony of the rightly understood interests of all groups and of all individuals of the...
Jan 20, 2019 | Communism, Economics, Socialism
I am here in Buenos Aires as a guest of the Centro de Difusión Economía Libre. What is economía libre? What does this system of economic freedom mean? The answer is simple: it is the market economy; it is the system in which the cooperation of individuals in the...
Jan 13, 2019 | Economics, Inequality, Unions
The capitalist system was termed “capitalism” not by a friend of the system, but by an individual who considered it to be the worst of all historical systems, the greatest evil that had ever befallen mankind. That man was Karl Marx. Nevertheless, there is...
Oct 6, 2011 | Economics, POLITICS
Excerpt is from “Economic Calculation in the Socialist Commonwealth” (1920) by Ludwig von Mises. Conclusion It must follow from what we have been able to establish in our previous arguments that the protagonists of a socialist system of production claim...
Oct 5, 2011 | Economics, POLITICS
Excerpt is from “Economic Calculation in the Socialist Commonwealth” (1920) by Ludwig von Mises. 5. The Most Recent Socialist Doctrines and the Problem of Economic Calculation Since recent events [in 1920] helped socialist parties to obtain power in...
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