The Impracticability of Socialism

Tags: Calculation and Knowledge, Entrepreneurship, Big Government

11/13/2026 Ludwig von Mises

The convergence of the argument: without economic calculation there is no way to ascertain the cost and result of any operation, and no form of organization can make individual action independent of others without reducing it to gambling. Mises also ridicules the idea that the business spirit can be imported into public enterprise by adopting typewriters and copying machines.

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