Mises did not argue that state socialism could not use money as a unit of calculation, he argued that with no private ownership of higher order goods in such a society, no market-determined prices could be established for them that reflected their relative scarcities to those contending for their uses in production.
November 20, 2020 The Cunning Plot to Kill Kennedy
If anyone murders a federal official, you can be assured of one thing: the feds will do everything they can to ensure that everyone involved in the crime is brought to justice. It’s like when someone kills a cop. The entire police force mobilizes to capture, arrest, and prosecute everyone involved in killing the cop. The phenomenon is even more pronounced at ..
Socialism, American Style, Part 5
by Jacob Hornberger
The Federal Reserve System is another prime example of American socialism, because it is based on central planning, a core element of socialism. Government ...
Judy Shelton and the Fed
by Jacob G. Hornberger and Richard M. Ebeling
Will President Trump's nominee for the Federal Reserve Board, Judy Shelton, who has expressed support for the ...
Diplomatic Impunity
by Michael Tennant
“An ambassador is an honest man sent to lie abroad for the good of his country,” English diplomat Sir Henry Wotton was quoted as ...
Do Not Trust Governments with the Control of Money
by Richard M. Ebeling
If there is one thing that is fairly certain in this life – besides the seeming inescapability of death and taxes – is that once ...
