3.1. The Impractiability of Government All-round Control

Tags: Political Theory, Big Government

05/02/1944 Ludwig von Mises

Socialism (i.e., full government control of all economic activities) is impracticable because a socialist community lacks the indispensable intellectual instrument of economic planning and designing: economic calculation. The very idea of central planning by the state is self-contradictory. A socialist central board of production management will be helpless in the face of the problems to be solved.

From Chapter III: "Bureaucratic Management of Publicly Owned Enterprises". Narrated by Millian Quinteros.

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