Wednesday, 26 October 2016

Human Action by Ludwig von Mises

Ludwig von Mises’s Human Action is one of the most interesting books on economics. In it Mises has presented his entire economic theory, along with conducting a rational investigation of human decision-making.

I had purchased Ludwig von Mises’s Human Action in 2009. The book is divided into 7-parts. In Part 5, “Social Cooperation Without a Market,” Mises has analyzed the problem of socialism.

Here’s an excerpt from Part 5:

No socialist author ever gave a thought to the possibility that the abstract entity which he wants to vest with unlimited power--whether it is called humanity, society, nation, state, or government--could act in a way of which he himself disapproves. A socialist advocates socialism because he is fully convinced that the supreme dictator of the socialist commonwealth will be reasonable from his--the individual socialist's--point of view, that he will aim at those ends of which he--the individual socialist--fully approves, and that he will try to attain these ends by choosing means which he--the individual socialist—would also choose. Every socialist calls only that system a genuinely socialist system in which these conditions are completely fulfilled; all other brands claiming the name of socialism are counterfeit systems entirely different from true socialism. Every socialist is a disguised dictator. Woe to all dissenters! They have forfeited their right to live and must be “liquidated."

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