Ludwig Von Mises

Ludwig Von Mises (1881-1973) was the 20th century's foremost economist. He was the author of Human Action, Socialism, and a dozen other works.

The Economics of Socialism, Part 1

In the cloud-cuckoo lands of socialist fancy, roast pigeons will fly into the mouths of the comrades,with no realistic explanation of how this miracle is to take place.

The Myth of the Failure of Capitalism

The nearly universal opinion expressed these days is that the economic crisis of recent years marks the end of capitalism. Capitalism allegedly has failed, has proven itself incapable of solving economic problems, and so mankind has no alternative, if it is to survive, than to make the transition to a planned economy, to socialism.

Laissez Faire vs. Interventionism

In eighteenth-century France the saying laissez faire, laissez passer was the formula into which some of the champions of the cause of liberty compressed their program. Their aim was the establishment of the unhampered market society. In order to attain this end they...

Liberty & Property

The distinctive principle of Western social philosophy is individualism.

The Central Role of Saving and Capital Goods

As the popular philosophy of the common man sees it, human wealth and welfare are the products of the cooperation of two primordial factors: nature and human labor. All the things that enable man to live and to enjoy life are supplied either by nature or by work or by...

Planned Chaos: The Teachings of Soviet Experience (Part 10 of 11)

Many people all over the world assert that the Soviet "experiment" has supplied conclusive evidence in favor of socialism and disproved all, or at least most, of the objections raised against it. The facts, they say, speak for themselves. It is no longer permissible...

Planned Chaos: Nazism (Part 9 of 11)

The philosophy of the Nazis, the German National Socialist Labor Party, is the purest and most consistent manifestation of the anticapitalistic and socialistic spirit of our age. Its essential ideas are not German or "Aryan" in origin, nor are they peculiar to...

Planned Chaos: Fascism (Part 8 of 11)

When the war broke out in 1914, the Italian socialist party was divided as to the policy to be adopted. One group clung to the rigid principles of Marxism. This war, they maintained, is a war of the capitalists. It is not seemly for the proletarians to side with...

Planned Chaos: The Liberation of the Demons (Part 7 of 11)

The history of mankind is the history of ideas. For it is ideas, theories, and doctrines that guide human action, determine the ultimate ends men aim at and the choice of the means employed for the attainment of these ends. The sensational events which stir the...

Planned Chaos: Trotsky’s Heresy (Part 6 of 11)

The dictatorial doctrine as accepted by the Russian Bolshevists, the Italian Fascists and the German Nazis tacitly implies that there cannot arise any disagreement with regard to the question who shall be the dictator. The mystical forces directing the course of...

Planned Chaos: Russia’s Aggressiveness (Part 5 of 11)

The German, Italian and Japanese nationalists justified their aggressive policies by their lack of Lebensraum. Their countries are comparatively overpopulated. They are poorly endowed by nature and depend on the import of foodstuffs and raw materials from abroad. They...

Planned Chaos: Socialism and Communism (Part 4 of 11)

In the terminology of Marx and Engels the words communism and socialism are synonymous. They are alternately applied without any distinction between them. The same was true for the practice of all Marxian groups and sects until 1917. The political parties of Marxism...

Planned Chaos: The Failure of Interventionism (Part 2 of 11)

NOTHING is more unpopular today than the free market economy, i.e., capitalism. Everything that is considered unsatisfactory in present-day conditions is charged to capitalism. The atheists make capitalism responsible for the survival of Christianity. But the papal...

Planned Chaos: Introduction (Part 1 of 11)

The characteristic mark of this age of dictators, wars and revolutions is its anticapitalistic bias. Most governments and political parties are eager to restrict the sphere of private initiative and free enterprise. It is an almost unchallenged dogma that capitalism...

The Alleged Absence of Depressions Under Totalitarian Management

Many socialist authors emphasize that the recurrence of economic crises and business depressions is a phenomenon inherent in the capitalist mode of production. On the other hand, they say, a socialist system is safe against this evil. As has already become obvious and...

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