Socialism

In this issue of The Austrian, we provide highlights from some of the most important and salient articles published on mises.org during the unprecedented crisis of 2020.

A big reason that socialist ideology has staying power is the tactic of blaming the many failures and disasters of socialist regimes on the alleged fact the regimes "aren't real socialism."

The weird thing about dialectical materialism is that Marx seems to have cobbled it together from two philosophies that contradicted each other.

The weird thing about dialectical materialism is that Marx seems to have cobbled it together from two philosophies that contradicted each other.

Lawson and Powell have had the happy idea of presenting elementary economics in a humorous way that will appeal to those “turned off” by serious and sober scholarship.

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.

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.

We live in an age when politicians decide what is "essential" and what isn't. It's a grave abuse of power and common sense.

Doing things for money does not justify moral condemnation, unless using money to support your family, live up to the agreements you have made, and to try not to burden others justifies moral condemnation.

With oil prices in likely long-term tailspin, corrupt governments can't count on oil sales to bail them out anymore. But Mexico's government didn't get the memo and still clings to the state oil monopoly.