Ludwig von Mises is one of my new heroes, but I realize he is just espousing a theory against socialism based on his own capitalistic presuppositions on the subject. Yet it's so simple, it must be true. This lecture will help anyone trying to understand why socialism can't work on the macroeconomic scale.
So often, those of us in favor of the free market just espouse the mantra that socialism doesn't work without an understanding of why. As one of my father's collage professors would say, "It really isn't enough to know how, one must also know why." When you know why, your understanding becomes more principled. It's really simple to understand why sound money is also vital to the free market by listening to this lecture.
Source: Mises Institute Media , recorded 29 July 2008 at the Ludwig von Mises Institute; Auburn, Alabama.
So often, those of us in favor of the free market just espouse the mantra that socialism doesn't work without an understanding of why. As one of my father's collage professors would say, "It really isn't enough to know how, one must also know why." When you know why, your understanding becomes more principled. It's really simple to understand why sound money is also vital to the free market by listening to this lecture.
Calculation And Socialism by Joseph T. Salerno
Download now or listen on posterous
12_Salerno.mp3 (13510 KB) Download now or listen on posterous
Source: Mises Institute Media , recorded 29 July 2008 at the Ludwig von Mises Institute; Auburn, Alabama.
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