Economic Calculation in the Socialist Commonwealth (Part 6)

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 preference for it on the ground of greater rationality as against an economy so constituted […]

Economic Calculation in the Socialist Commonwealth (Part 5)

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 Russia, Hungary, Germany and Austria, and have thus made the execution of a socialist nationalization program […]

Economic Calculation in the Socialist Commonwealth (Part 4)

Excerpt is from “Economic Calculation in the Socialist Commonwealth” (1920) by Ludwig von Mises. 4. Responsibility and Initiative in Communal Concerns The problem of responsibility and initiative in socialist enterprises is closely connected with that of economic calculation. It is now universally agreed that the exclusion of free initiative and individual responsibility, on which the […]

Economic Calculation in the Socialist Commonwealth (Part 3)

Excerpt is from “Economic Calculation in the Socialist Commonwealth” (1920) by Ludwig von Mises. 3. Economic Calculation in the Socialist Commonwealth Are we really dealing with the necessary consequences of common ownership of the means of production? Is there no way in which some kind of economic calculation might be tied up with a socialist […]

Economic Calculation in the Socialist Commonwealth (Part 2)

Excerpt is from “Economic Calculation in the Socialist Commonwealth” (1920) by Ludwig von Mises. 2. The Nature of Economic Calculation Every man who, in the course of economic life, takes a choice between the satisfaction of one need as against another, eo ipso makes a judgment of value. Such judgments of value at once include […]

Economic Calculation in the Socialist Commonwealth (Part 1)

Excerpt is from “Economic Calculation in the Socialist Commonwealth” (1920) by Ludwig von Mises. There are many socialists who have never come to grips in any way with the problems of economics, and who have made no attempt at all to form for themselves any clear conception of the conditions which determine the character of […]

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 a combination of nature-given opportunities […]

Planned Chaos: The Alleged Inevitability of Socialism (Part 11 of 11)

Many people believe that the coming of totalitarianism is inevitable. The “wave of the future,” they say, carries mankind inexorably toward a system under which all human affairs are managed by omnipotent dictators. It is useless to fight against the unfathomable decrees of history. The truth is that most people lack the intellectual ability and […]

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 to pay any attention to the spurious aprioristic reasoning of armchair […]

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 the present-day Germans. In the genealogical tree of the Nazi doctrine such Latins as […]

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 any of the belligerent parties. The proletarians […]

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 emotions and catch the interest of superficial observers are merely […]

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 historical events designate the providential leader. All righteous people are bound to submit to […]

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 must export manufactures to pay for these badly needed imports. But the protectionist policies espoused by […]

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 which considered the Communist Manifesto as the unalterable gospel of their doctrine […]

Planned Chaos: The Dictatorial, Anti-Democratic and Socialist Character of Interventionism (Part 3 of 11)

Many advocates of interventionism are bewildered when one tells them that in recommending interventionism they themselves are fostering anti-democratic and dictatorial tendencies and the establishment of totalitarian socialism. They protest that they are sincere believers in democracy and opposed to tyranny and socialism. What they aim at is only the improvement of the conditions of […]

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 encyclicals blame capitalism for the spread of irreligion and the sins of our contemporaries, and the Protestant churches […]

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