By Hans-Hermann Hoppe
Here's Hans Hoppe's first treatise in English - truly his first publication 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 structures are combos of these forms. The capitalist version he defines as natural safeguard of personal estate, unfastened organization, and trade - no exceptions. All deviations from that excellent 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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Extra info for A Theory of Socialism and Capitalism
It should be apparent what this important fact implies for a producer. It means that however low the presently fixed degree of expropriation might be, his productive efforts take place under the ever-present threat that in the future the income-share which must be handed over to society will be raised unilaterally. It does not need much comment to see how this increases the risk, or the cost of producing, and hence lowers the rate of investment. With this statement a first step in the analysis that follows has already been taken.
40 On the social-democratic position regarding the North-South conflict cf. NorthSouth: A Programme for Survival, Independent Commission on International Development Issues (Chair: W. Brandt), 1980. Hans-Hermann Hoppe 61 police and courts. In principle, everyone has the right to privately appropriate and own means of production, to sell, buy, or newly produce them, to give them away as a present, or to rent them out to someone else under a contractual arrangement. But secondly, no owner of means of production rightfully owns all of the income that can be derived from the usage of his means of production and no owner is left to decide how much of the total income from production to allocate to consumption and investment.
Pejovich, Life in the Soviet Union, Dallas, 1979; M. Miller, Rise of the Russian Consumer, London, 1965. 31 Cf. L. , 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.