Political Economy
The paramount matter is the conflict between economic freedom as represented in the market economy and totalitarian government omnipotence as realized by socialism.
The paramount matter is the conflict between economic freedom as represented in the market economy and totalitarian government omnipotence as realized by socialism.
Private enterprise systems improve human cooperation and further peace and prosperity. Economic systems with which governments intervene are called liberal, or middle of the road economics. They declare they are not socialist. They say they wish to preserve market systems. But, is that possible? No. Nothing will be left of the free market. Capitalism and socialism cannot coexist. Step by step, interventionism erodes capitalism into some form of socialism. The clear distinction between production and government must be reestablished and left untouched.
The private seminars that Mises held, and which were so successful in Vienna beginning in 1919, were actually separate from the University. Mises here remembers many of his seminar participants, like Hayek, Haberler, Schütz, and Machlup. He was glad to have contributed to the development of international cooperation among so many economists.
In this 1958 speech, Ludwig von Mises explains why, under socialism, "freedom" means the elimination of dissent. The socialist goal is bondage, not liberty.
The bureaucrat is not only a government employee. He is also his own employer.
It was a purposeful confusion on the part of the German metaphysicians of statolatry that they clothed all men in the government service with the gloriole of altruistic self-sacrifice.
The capitalist variety of competition is to outdo other people on the market through offering better and cheaper goods. The bureaucratic variety consists in intrigues at the "courts" of those in power.
No private enterprise will ever fall prey to bureaucratic methods of management if it is operated with the sole aim of making profit.