1. Ludwig von Mises
In the summer of 1914 Mises was called back to active duty for World War I. ... They allow individuals to have some income which they can spend as they see fit. ... Even if socialist planners have some knowledge of the goods and services that need to be produced, the obstacles they face in selecting the proper methods of production are impossible to overcome. ... He did not claim that, since the profit motive is absent under socialism, bureaucrats have no incentive to try to follow the guidance of reason in their production decisions. ... Instead, the cause of socialism's irrationality ...
- Word Count: 2749
- Approx Pages: 11
- Grade Level: Undergraduate