“Granted, many of them replied, that socialism may not result in riches for all but rather in a smaller production of wealth; nevertheless the masses will be happier under socialism, because they will share their worries with all their fellow citizens, and there will not be wealthier classes to be envied by poorer ones. The starving and ragged workers of Soviet Russia, they tell us, are a thousand times more joyful than the workers of the West who live under conditions which are luxurious compared to Russian standards; equality in poverty is a more satisfactory state than well-being where there are people who can flaunt more luxuries than the average man.”

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About Ludwig von Mises

Austrian and American political economist and philosopher

Ludwig Heinrich von Mises was an Austrian and American political economist and philosopher of the Austrian school. He is known for his work on classical liberalism and the place of consumers in a market economy. He wrote and lectured widely on the social value of classical liberalism, and on praxeology, the study most closely associated with his work. He is also known for comparing communism and capitalism, and for defending liberal ideas against the spread of illiberalism and authoritarianism in 20th-century Europe.

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Books by Ludwig von Mises

Human Action

2007

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