Episode 13
3.1. The Impractiability of Government All-round Control
Bureaucracy · Mises Institute
May 2, 1944
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Show Notes
Socialism (i.e., full government control of all economic activities) is impracticable because a socialist community lacks the indispensable intellectual instrument of economic planning and designing: economic calculation. The very idea of central planning by the state is self-contradictory. A socialist central board of production management will be helpless in the face of the problems to be solved.
From Chapter III: "Bureaucratic Management of Publicly Owned Enterprises". Narrated by Millian Quinteros.
Topics
Big GovernmentPolitical Theory