Socialism and the Green New Deal are Economically Impossible

“This coming year, 2020, marks the hundredth anniversary of the publication of Austrian economist, Ludwig von Mises’s,” famous article, “Economic Calculation in the Socialist Commonwealth,” which appeared in German in 1920, and which was expanded into a full-length book on every facet of socialism two years later in 1922. In this article and the later book, Mises demonstrated the inherent and inescapable unworkability of a centrally planned economy once government has done away with private ownership in the means of production, and the resulting end to market competition and a functioning price system on the supply-side of the economy.

What I try to show in my article is that Mises’s argument against socialist planning is more than a closed episode in the history of economic ideas. With the rise of the new call for “democratic” socialism and the demand for a Green New Deal, his critique of the command and control economy – this time in the name of “saving the planet” from global warming – is just as, if not more, relevant than ever in the face of what is actually being proposed for ending any sort of functioning competitive market economy by implementing the demand for a “green” system of central planning.”

Richard Ebeling

Socialism and the Green New Deal are Economically Impossible