Calculation and Socialism
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
In 1920, Ludwig von Mises destroyed the intellectual foundations of the case for socialist central planning.
There is no clear basis in economics, ethics, efficiency, or fairness for Minimum Wage Laws.
Time is an irreversible flux. Each moment has a unique place in the sequence of moments of time with respect to action.
Menger discovered much more than the principle of marginal utility—he created an entire system of economics based on subjective value and individual choice.
"The free market and the division of labor does not promote hyper-atomized individuals. It creates social harmony and community."
Presented at Mises University 2022.