This episode builds on the discussion in episode 1584 about the primary, and devastating, argument against socialism, namely the one developed by Ludwig von Mises that involves the impossibility of economic calculation under socialism. Today I explain why this is the most fundamental argument against socialism, trumping even the problem of dispersed knowledge emphasized by F.A. Hayek.
Skillshare is an online learning community with over 21,000 classes in design, business, technology, and more. Get two months of Skillshare for FREE by going to skillshare.com/woodsfree.
“Economic Calculation in the Socialist Commonwealth: Postscript: Why a Socialist Economy is ‘Impossible,‘” by Joe Salerno
“Reply to Leland B. Yeager on ‘Mises and Hayek on Calculation and Knowledge‘,” by Joe Salerno
“Ludwig von Mises as Social Rationalist,” by Joe Salerno
“Socialism: A Property or Knowledge Problem?,” by Hans-Hermann Hoppe
“Knowledge, Judgment, and the Use of Property,” by Jörg Guido Hülsmann
“Calculation and the Question of Arithmetic,” by Jeffrey Herbener
“Ludwig von Mises and the Austrian School of Economics,” by Jeffrey Herbener
“The End of Socialism and the Calculation Debate Revisited,” by Murray Rothbard
“The Equations Of Mathematical Economics And The Problem Of Economic Calculation In A Socialist State,” by Ludwig von Mises
“Economic Calculation in the Socialist Commonwealth,” by Ludwig von Mises
Listener Website Mentioned
1) Free guide on how to start your blog or website. Click here to get it. Plus, check out my step-by-step video taking you from no blog to a blog in about five minutes!
2) Free publicity for your blog. As a special thanks if you get your hosting through one of my affiliate links (this one for Bluehost, or this one for WP Engine), I’ll boost your blog. Click here for details.
3) Free History Course: The U.S. Presidents — Politically Incorrect Edition. Get access to this 22-lesson course: 22 videos, 22 mp3 files for listening on the go, and a bibliography of reliable books on the presidents. Get it at FreeHistoryCourse.com!.
4) $160 in Free Bonuses. Free signed copy of my New York Times bestseller The Politically Incorrect Guide to American History, plus a free 10-lesson bonus course on the foundations of liberty, plus a free year’s subscription to LibertyClassroom.com, when you subscribe to the Ron Paul Curriculum site through RonPaulHomeschool.com.
5) Free Books. Boost your intellectual ammunition with my free libertarian eBooks, including 14 Hard Questions for Libertarians — Answered, Bernie Sanders Is Wrong, and Education Without the State. Find them at TomsFreeBooks.com.
Audio Production by: