Though he was generally a Ricardian, John Stuart Mill thought that the main obstacle to socialism is that people might not yet be civilized enough to put it into practice.
05/21/2020Quarterly Journal of Austrian EconomicsMárton Kónya
Firms, like other organizations, are unable to substitute the market in coordinating their economic plans. If they ever tried to eliminate the market creating them, they would face the same problems that all planned economies do.
05/20/2020Quarterly Journal of Austrian EconomicsMark A. DeWeaver
This paper extends Austrian business cycle theory to the command economy and demonstrates that Mises’s socialist commonwealth would not be free from Rothbardian error cycles.
Much of the resistance to libertarian anarchic proposals stems from a genuine inability on the part of one’s audience to entertain such proposals as serious alternatives to the status quo.
