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The time is right for a reexamination of Austrian capital-theory. We attempt to capture the essence of Carl Menger's approach to capital, highlighting the important distinction between goods and the valuable services they yield (implying that goods are valuable only because they yield valuable...
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, canonical socialism / command economy, and real-world interventionism / mixed economy, offering both a priori insights and …
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The author argues that the decay of liberal capitalism is the consequence of social rules that leave unconstrained the unwarranted intrusion of government into our economic affairs and reward leaders who can succeed in this process of power politics
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costs must be strong. In essence, this is the case for capitalism over socialism, explaining the dynamic vitality of free … enterprise. The great economists of the 1930s and 1940s failed to see the dangers of socialism in part because they focused on … the role of prices under socialism and capitalism and ignored the enormous importance of ownership as the source of …
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Roman Rosdolsky suggests a method to deal with the transition towards socialism that integrates three issues: 1) the … capitalism – and the possibility of establishing socialism and democracy …
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, Socialism and Democracy (CSD) for today, we argue Schumpeter's vision for a dynamic world remains essential for understanding …. Then, we summarize the book, which Schumpeter divided into five separate parts on Marx, capitalism, socialism, democracy … book, such as Schumpeter's description of socialism and his theory of democracy. Instead of tackling all these ideas in …
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