no room independent enterprise variety State Socialism. Prices regulat — Ludwig von Mises, Theory Money Credit

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There is no room at all for independent enterprise under any variety of State Socialism. Prices are to be regulated authoritatively; authority is to fix what is to be produced, and how, and in what quantities. There is to be no speculation, no 'excessive' profit, no loss. There is to be no innovation unless it be decreed by authority. The official is to direct and supervise everything.

Ludwig von Mises, The Theory of Money and Credit

Related Authors: Ludwig von Mises | The Theory of Money | Credit

Related Topics: capitalism, economics, freedom, money

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