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Quote of the Month: May 2016

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In the past year or so, I’ve gotten in heated debates with self-avowed socialists regarding the “blending” of the free market (“capitalism”) with socialism. They claim that they appreciate some aspects of the Market, but that it can’t solve all of the problems in society–therefore, the ideal blend is necessary. Additionally, in one of my Adventures in Illinois Higher Education editions, I documented the same attempt by my American Government and Politics professor. It would seem that this has been common for quite a long time; long enough, that Ludwig von Mises debunked said attempt in his magnum opus, Human Action. If only I could have found this quote earlier…

mises qotm

“The market economy or capitalist, as it is usually called, and the socialist economy preclude one another. There is no mixture of the two systems possible or thinkable; there is no such thing as a mixed economy, a system that would be in part capitalistic and in part socialist. Production is directed either by the market or by the decrees of a production tsar or a committee of production tsars.”  p. 259


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