"Misesian economics shows that socialism fails because it violates the irrefutable laws of economics-among them the law of exchange, the law of diminishing marginal utility, the Ricardian law of association, the law of price controls, and the quantity theory of money-which can be deduced from the axiom of action by means of applied logic. And thus we can know-beforehand and absolutely-what the consequences of socialism will be wherever it is tried."
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Original Language: English
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Hans Hermann Hoppe, Intellectual Cover for Socialism, The Free Market 6, no. 2 (February 1988)
https://en.wikiquote.org/wiki/Socialism
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Socialism
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