communism teaches and seeks two objectives: unrelenting class warfare and the complete eradication of private ownership. Not secretly or by hidden methods does it do this, but publicly, openly, and by employing any means possible, even the most violent. To achieve these objectives there is nothing it is afraid to do, nothing for which it has respect or reverence. When comes to power, it is ferocious in its cruelty and inhumanity. The horrible slaughter and destruction through which it has laid waste vast regions of Eastern Europe and Asia give evidence of this. 42
price discovery Edit
Socialism is literally impossible as Mises has already proved in 1920. In brief: it is a system in which rational economic calculation becomes impossible, because there are no longer prices for capital goods once private property in the means of production is abolished. A system bereft of economic calculation can no longer allocate scarce resources efficiently. It cannot really be called an economy anymore. It a system that is doomed to break down in short order, and the only reason why it survived as long as it did in the former Eastern Bloc was that the COMECON planners were able to observe the price system in the capitalist countries and so could engage in a rudimentary form of economic calculation. Had the whole world become socialistic, the economy and division of labor would have completely collapsed within a few years and people would have been forced to return to a hand-to-mouth existence, barely able to subsist. Life would once again have become 'nasty, brutish and short'.