Posted on 02/07/2014 9:03:57 AM PST by yoe
Edited on 02/07/2014 9:06:13 AM PST by Admin Moderator. [history]
Five years after the Bolshevik Revolution, Austrian economist Ludwig von Mises predicted that the Soviet project was doomed to fail. In his classic work Socialism, Mises explained that the attempt to replace the market system with central economic planning could not succeed, because the planners could not possibly have the information necessary to make all the decisions which, in a market economy, are made by individuals whose needs and desires are reflected in prices: "The problem of economic calculation is the fundamental problem of Socialism."
(Excerpt) Read more at spectator.org ...
We are witnessing the first of many major Public tests of the failed Keynesian Economic Theory, (KET).
The current test will will be very painful and moderately short IF the damn Congressional RINOs do not “rescue” KET, Obamacare, Dodd-Frank, Food Stamps, Unemployment Payments, and Quantitative Easing.
Communism has never worked only because the right people weren't in charge.
We can fix that this time.
Really.
Trust us...
The next “test” will be of our resolve. “Rough men” stand ready...
We’ve reached the point where the most reasonable response to Jess Myerson is to challenge him to a fist fight . His writing shows a mind unable to grasp even the most basic logic. It would be like teaching algebra to a horse.
For the current “fire-in-the-hole!” test, we need to stand back and allow the pain and suffering continue for a while to allow the more intelligent Liberals to realize that their Commie ideas are Un American, un workable and un savable..
Sort of a reverse McCarthyism.
‘Fait le mal temps roulet!’
are you telling me the nsa actually knows what a woman wants....pfffft
But..but...but aren’t all the central planners in Obumbles’ administration college professors,the smartest people in the world?
Oh, that’s right...as anyone who has been around academia knows, most college professors couldn’t find their offices if they didn’t have secretaries that ran the place. They are the least qualified bunch on earth when it comes to organization and discipline. Exhibit A: The Obama Economy; Exhibit B: Benghazi
In general this is an excellent article. Went to the original piece. The author slays straw men right and left. Such as the claim that only Communist government mistreat and kill people. Don’t know anybody who has ever actually believed this.
Does make one good point that is often forgotten by conservatives. A good many of the 110M people killed by communists during the 20th were not opponents of communism. Many of them were themselves communists who lost out in the various power struggles. Trotsky, for instance. The Revolution has always eaten its children.
One important possibility for the future should be given some thought, IMO. The “free market” is based on an economy of scarcity, where the potential aggregate demand greatly exceeds potential supply. The function of the market is to most efficiently distribute the available supply to satisfy demand.
But what about an economy not based on scarcity? Technological advancement creates at least the possibility that “stuff” will get closer and closer to free.
Meanwhile the demand for number of people to keep this economy functioning will keep going down. IOW, at some point we’re likely to have an enormous supply of stuff produced with very little human input. There will be little or no demand for the labor of most people.
This is the root cause of the growing economic inequality across the world, even more than stupid government interferences. Extrapolate the trends and the free market, as it has acted to produce net increase in human freedom and income over the last few centuries may stop doing so.
Past performance is no guarantee of future performance. The free market may at some point stop working for the benefit of most people. Its doing so is not a law of nature. It may be just a loonnggg phase in human history.
The USA is keeper of the Reserve Currency,
the shift to socialism is being orchestrated by the worldwide Federal Reserve in a way that will loot the US economy and enslave the people of the USA with debt forever
I believe all the senseless wars lately are also part of this plan. I noticed leaders that deal in non-USD get a visit from the US military or US backed mercenaries (operating on borrowed money)[/tin foil hat]
” - - - the worldwide Federal Reserve in a way that will loot the US economy - - - “
Yup, as I said, it is going to be very painful - - - - .
Allez!
“The problem of economic calculation is the fundamental problem of Socialism.”
To bad they don’t have telegrams any more it would be great one to send to Obama&Co.
He shoots! He scores! The crowd goes wild!
Decades ago, R. Buckminster Fuller was saying that scarcity is becoming more and more obsolete. Now, he was more or less a collectivist, and he was one of maybe three or four free-worlders who could fly into the USSR without a visa anytime he wished. But that’s not the point. If there comes a time when there really is “enough to go around,” when supply of necessities and comforts equals or exceeds demand, then markets for both labor and ownership may become unable to be described in current economic terms.
Communism is the best system in the world! It has not worked because it has not been done right!
WE will do it right, “click” do it right “click” do it right ‘CLick” do it right “click” do it right.....
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