WorldSys: Austrian Home Study Course, Week 31

READINGS: “Economic Calculation in the Socialist Commonwealth”, Ludwig Von Mises; Chapter 10 of “Economics for Real People”, by Gene Callahan; Chapters 2 and 3 of Thomas Taylor’s “An Introduction to Austrian Economics”. 1) For Mises, what is the defining characteristic of socialism? Community ownership of the means of production, that is: factories, capital goods, etc. […]

WorldSys: Austrian Home Study Course, Week 28

READINGS: “Middle-of-the-road Policy Leads to Socialism” by Ludwig Von Mises, Chapters 11 and 12 of Gene Callahan’s “Economics for Real People” 1 What is interventionism? A third-way system meant to stand equidistant between communism and capitalism, retaining the advantages and avoiding the pitfalls of each. Interventionism essentially calls for having a market and a State, […]