Socialism

Tags: Political Theory, Private Property, Free Markets

11/11/2026 Ludwig von Mises

Mises defines socialism as the transfer of the means of production to the State and insists the terminology of transfer is irrelevant—ownership is the power of disposal, whatever the legal form is called. The chapter closes on unemployment, which he treats as a phenomenon of transition wherever wage rates are free to adjust.

The Mises Institute is a non-profit organization that exists to promote teaching and research in the Austrian School of economics, individual freedom, honest history, and international peace, in the tradition of Ludwig von Mises and Murray N. Rothbard.

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