A Quote by Ludwig von Mises
Without calculation, economic activity is impossible. Since under Socialism economic calculation is impossible, under Socialism there can be no economic activity in our sense of the word All economic change, therefore, would involve operations the value of which could neither be predicted beforehand nor ascertained after they had taken place. Everything would be a leap in the dark. Socialism is the renunciation of rational economy.
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In the socialist commonwealth every economic change becomes an undertaking whose success can be neither appraised in advance nor later retrospectively determined. There is only groping in the dark. Socialism is the abolition of rational economy.
When we talk about the word 'socialism,' I think what it really means is just democratic participation in our economic dignity and our economic, social, and racial dignity. It is about direct representation and people actually having power and stake over their economic and social wellness, at the end of the day.
Socialism isn't just a list of economic prescriptions for government. Perhaps above all, socialism is a moral view.
Socialism is nothing more nor less than the social, political and ideological system which breaks the fetters upon economic growth created under capitalism and opens the way to a new period of economic and social expansion on a much larger scale.
The goal of socialism is a fairer allocation of economic resources, which its advocates often claim will also be a less wasteful one. Socialism is about who gets the goods and how. Socialism objects to markets because markets allocate resources in ways socialists believe to be unfair on both counts: both the who and the how.
The road to economic well-being is to reward productive economic activity and to provide a moderate and predictable growth of money to finance real economic growth without reigniting the fires of inflation.
It would be helpful if someone would lay out exactly the economic mechanism that gets us from yet lower interest rates to actual economic activity.
Monetary calculation is not the calculation, and certainly not the measurement, of value. Its basis is the comparison of the more important and the less important. It is an ordering according to rank, an act of grading (Cuhel), and not an act of measuring. It was a mistake to search for a measure of the value of goods. In the last analysis, economic calculation does not rest on the measurement of values, but on their arrangement in an order of rank.
In the course of history periods of capitalism and socialism alternate with one another; capitalism is the unnatural, socialism the natural economic system... The National Socialists and the Red Front have the same aspirations. The Jews falsified the Revolution in the form of Marxism and that failed to bring fulfilment.
By 'socialism' I mean a classless society in which the State has disappeared, production is cooperative, and no man has political or economic power over another. The touchstone would be the extent to which each individual could develop his own talents and personality.
Socialism constitutes a threat to the present and future welfare of the human race, in the sense that neither socialism nor any other known substitute for the market order could sustain the current population of the world.
The economic disasters of socialism and communism come from assuming a blanket superiority of those who want to run a whole economy.
There is no difference in principle, ... between the economic philosophy of Nazism, socialism, communism, and fascism and that of the American welfare state and regulated economy.
If greed were not the master of modern man, how could it be that the frenzy of economic activity does not abate as higher standards of living are attained, and that it is precisely the richest societies which pursue their economic advantage with the greatest ruthlessness?
Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living.
If the world economy is divided into isolated economic blocs of this kind, it will be rather difficult to achieve the same interpretation and application of international rules of economic activity and world trade.
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