Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Not normally a fan of David Horowitz

Posted by Jesse on December 20, 2008

But this article isn’t too bad.. lol. Just skip thru the first few paragraphs.

Heck, I’m just going to post a nice juicy section:

As close as any analysis could, Von Mises warning anticipated the next 70 years of socialist history. Under the Soviet Unions central planning, the Kremlin rulers were indeed unable to allocate resources rationally, or to promote technological innovation, or to replace the profit motive with a viable system of non-monetary “social” incentives. As a result, the socialist economy was unable to keep abreast of the technological changes that would catapult the West into the post-industrial era. The socialist economy could not even create sufficient growth to feed its own people. Once the breadbasket of Europe, Soviet Russia under socialist planning became a chronic importer of grain, an economy of forced rationing and periodic famine. The effect of socialist order was exactly as Von Mises had predictedthe generalization of poverty and the crippling of productivity, so that Russia was unable to enter the information age and compete economically with the West.

Although history has dramatically confirmed Von Mises analysis, and just as dramatically refuted his left-wing opponents, his intellectual contributions are as unrecognized today as they were before the Communist fall. While the intellectual tradition that gave rise to Von Mises insights is marginalized in American universities, and its paradigm ignored, Marxism and its variants flourish. The profusion of Marxists on university faculties is, in fact, unprecedented, and the theories that Marxism has spawned now provide the principal texts for the next generations. While Von Mises writings are invisible, the works of Stalinists, ignorant of the most basic economic realities of how modern societies function, are familiar to most undergraduates. In the humanities and social sciences, the discredited tradition of Marxism has become the intellectual well-spring of the main schools of current academic theorycritical studies, cultural studies, historicism, structuralism, post-modernism, and radical feminism. The comparable schools of conservative and libertarian thought are hardly extant within university walls.

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