Why Socialism Fails: From Mises’s 1920 Article to Today

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Tags: Monetary Theory, Education, Macroeconomics, Socialism

05/19/2026 Robert P. Murphy Jonathan Newman

Bob sits down with Dr. Jonathan Newman to discuss his Mises Academy course for homeschooling families based on Lessons for the Young Economist, using it as a starting point to walk through the full Austrian case against socialism.

Related:

The Mises Academy: Mises.org/HAP550a
Dr. Newman’s Course, Lessons for the Young Economist: Mises.org/HAP550b
Bob’s Lessons for the Young Economist: Mises.org/HAP550c
Bob’s Lessons for the Young Economist Teacher’s Manual: Mises.org/HAP550d
Dr. Newman’s Article, “Star Trek Is Wrong: There Will Always Be Scarcity”: Mises.org/HAP550e

Celebrate Murray Rothbard’s 100th birthday with a free copy of Anatomy of the State. Get yours at Mises.org/HAPodFree

What is the Mises Institute?

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

Non-political, non-partisan, and non-PC, we advocate a radical shift in the intellectual climate, away from statism and toward a private property order. We believe that our foundational ideas are of permanent value, and oppose all efforts at compromise, sellout, and amalgamation of these ideas with fashionable political, cultural, and social doctrines inimical to their spirit.

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