Mises Wire

Money for Nothing

Money for Nothing
If you want to expose the absurdity of the state, think governmental accounting. Really, there is no better way to show the impossibility of a government solution to scarcity than by reading the annual audit of any governmental entity. Goethe considered double-entry bookkeeping -- the essence of accounting -- to be “one of the finest inventions of the human mind.” For without accounting, we lose the ability to calculate, and without the ability to calculate, modern civilization is impossible. Accounting lets the entrepreneur know whether he earned a profit, utilizing scarce resources in order to produce something of greater value. FULL ARTICLE
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