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Quote of the Month: October 2015

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The Austrian school of economics has made numerous important contributions to economic thought, one of the most important ones being the economic calculation problem. The economic calculation problem debunks socialism and communism, yet there is still a drive for socialism, thanks to Bernie Sanders. For that reason, the selected quote for this month is from Ludwig von Mises’ book titled, “The Ultimate Foundation of Economic Science,” which highlights another flaw within the ideology of socialism. 


“What pushes the masses into the camp of socialism is, even more than the illusion that socialism will make them richer, the expectation that it will curb all those who are better than they themselves are.”

 

mises quote


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