account_balance Socialism

Collective ownership and central control of production

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"The paradox of 'planning' is that it cannot plan, because of the absence of economic calculation. What is called a planned economy is no economy at all. It is just a system of groping about in the dark. There is no question of a rational choice of means for the best possible attainment of the ultimate ends sought. What is done is simply to muddle through."

— von Mises, Ludwig event 1949

menu_book Human Action: A Treatise on Economics

account_balance Socialism calculate Economic Calculation account_tree Central Planning

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"Democracy and socialism have nothing in common but one word, equality. But notice the difference, while democracy seeks equality in liberty, socialism seeks equality in restraint and servitude."

— Tocqueville, Alexis de event 1835

menu_book Democracy in America

groups Democracy account_balance Socialism equalizer Equality air Freedom flag Liberty

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auto_stories Books

Human Action: A Treatise on Economics

person von Mises, Ludwig event 1949

Ludwig von Mises' magnum opus and the most comprehensive systematic treatment of economics from the Austrian School perspective. Mises develops pra...

menu_book Austrian Economics trending_up Praxeology calculate Economic Calculation trending_up Free Market science Methodology menu_book Epistemology analytics Economics account_balance Socialism swap_horiz Capitalism trending_up Market Process business_center Entrepreneurship diamond Subjective Value monetization_on Sound Money

A Theory of Socialism and Capitalism: Economics, Politics, and Ethics

person Hoppe, Hans-Hermann event 1989

Systematic comparison of capitalism and socialism, examining the economic and ethical foundations of different property systems and their consequen...

work Political Economy account_balance Socialism swap_horiz Capitalism key Property Rights