What Vitiates Entirely The Socialists Economic Critique

Reason Is The Main Resource Of Man In His Struggle For Survival.

What Vitiates Entirely The Socialists Economic Critique Of Capitalism Is Their Failure To Grasp The Sovereignty Of The Consumers In The Market Economy.

Library Of The Works Of Ludwig Von Mises”. Here Is An Article He Wrote In 1951, Some Two Years After His Magnum Opus Human Action Appeared, Where Is Lays Out His Case In A More Popular Form. The Money Sentences Are “economic Theory Has Demonstrated In An Irrefutable Way That A Prosperity Created By An Expansionist Monetary And Credit Policy Is Illusory And Must End In A Slump, An Economic Crisis. It Has Happened Again And Again In The Past, And It Will Happen In The Future, Too.

The Characteristic Feature Of Militarism Is Not The Fact That A Nation Has A Powerful Army Or Navy. It Is The Paramount Role Assigned To The Army Within The Political Structure. Even In Peacetime The Army Is Supreme; It Is The Predominant Factor In Political Life. The Subjects Must Obey The Government As Soldiers Must Obey Their Superiors. Within A Militarist Community There Is No Freedom; There Are Only Obedience And Discipline.

Whether We Like It Or Not, It Is A Fact That Economics Cannot Remain An Esoteric Branch Of Knowledge Accessible Only To Small Groups Of Scholars And Specialists. Economics Deals With Society's Fundamental Problems; It Concerns Everyone And Belongs To All. It Is The Main And Proper Study Of Every Citizen.