The Calculation Flaw In Marx’s Socialism – By Jacob G. Hornberger

As Austrian economists Ludwig von Mises and Friedrich Hayek demonstrated, it is impossible to answer these questions with any degree of rationality. The reason for that is because under socialism, there are no prices. Without prices, it is impossible to calculate the costs of projects or evaluate their worth.

The result is what Mises called “planned chaos.” That’s what socialism always and inevitably produces —  chaos. Just look at Cuba, North Korea, Venezuela, and Nicaragua. Nothing but economic chaos in all of them.

In a private-property, free-market

via The Calculation Flaw In Marx’s Socialism

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