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By Hans-Hermann Hoppe

Here's Hans Hoppe's first treatise in English - really his first booklet in English - and the one who placed him at the map as a social philosopher and economist to monitor. He argued that there are just attainable archetypes in monetary affairs: socialism and capitalism. All platforms are mixtures of these varieties. The capitalist version he defines as natural safeguard of non-public estate, loose organization, and alternate - no exceptions. All deviations from that perfect are species of socialism, with public possession and interference with alternate.

Within the constitution of socialism, he distinguishes the left and correct model. "Conservative" socialism favors excessive law, behavioral controls, protectionism, and nationalism. The "liberal" model has a tendency extra towards outright public possession and redistribution.

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Additional resources for A Theory of Socialism and Capitalism

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An expropriation of the previous private owners, was implemented. Two different institutional frameworks, two different incentive structures have thus been applied to the same population. 32 While both countries do well in their respective blocs, West Germany has the highest standard of living among the major West-European nations and East Germany prides itself in being the most well-off country in the East bloc, the standard of living in the West is so much higher and has become relatively more so over time, that despite the transfer of considerable amounts of money from West to East by government as well as private citizens and increasingly socialist policies in the West, the visitor going from West to East is simply stunned as he enters an almost completely different, impoverished world.

It “is arrived at through the one-sided intensification of one or several aspects and through integration into an immanently consistent conceptual representation of a multiplicity of scattered and discrete individual phenomena” (M. 191). But to stress the abstract character of the concept by no means implies any deficiency in it. On the contrary, it is the very purpose of constructing ideal types to bring out those features which the acting individuals themselves regard as constituting relevant resemblances or differences in meaning, and to disregard those which they themselves consider to be of little or no importance in understanding either one’s own or another person’s actions.

48 A Theory of Socialism and Capitalism made Russia go through a similar experience more than once. Similar, though somewhat less drastic, results from a policy of socialization were experienced in all of the East European countries after World War II. 29 Nonetheless, in spite of such reforms, which incidentally prove the point that contrary to socialist propaganda it is private and not social ownership that improves economic performance, and in spite of the fact that moonlighting, illegal productive activities, bartering, and black market trade are ubiquitous phenomena in all of these countries, just as the theory would lead one to expect, and that this underground economy takes up part of the slack and helps to improve things, the standard of living in the East-bloc countries is lamentably low.

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