via the Western Standard:
While I’m not convinced President Obama’s team is any smarter than the Bush team, I am, however, convinced that it doesn’t matter. Did Soviet central planning fail because the Politburo was staffed with idiots? Of course not. It failed because central planning and socialism doesn’t work due to what economist Ludwig von Mises called the economic calculation problem.
READ ON....
Monday, January 26, 2009
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