Calculation and Socialism | Joseph T. Salerno

Mises University 2017. Recorded at the Mises Institute in Auburn, Alabama, on 25 July 2017.

[billmelater]

This talk should be revamped and geared towards central planning as a whole.  A lot of people see "Socialism" and turn a deaf ear yet continue to push for government ownership of things like healthcare, transportation, schooling etc., when it's the same thing, unbeknownst to them.

[crawdad]

I love lectures that are fun to listen to where I actually learn things. Thanks for this.

[genegoodman]

Thx Dr Salerno, I always seem to grab the concepts of your lessons. Thanks for all you guys do

[Thomasfboyle]

Calculation and Socialism is like saying Up and Down

[MaxSignae]

on the other hand we had witnessed that over the past 2-3 centuries one of the most dirty (and not very prestigious) jobs has become one of the most prestigious, regardless of the structure society or the prosperity of the community. In rich societies it has become also quite (but not extremely) lucrative. In poor societies or even socialist societies it is not lucrative, but still very prestigious, often way more prestigious than many more lucrative ones. on a separate note: all these theories were under the basic assumption that people have to do something for survival as the overall efficacy of the system was pretty low. simple example - roughly 100-130 years ago 90+% of labor force were making food. In some countries - 97%. Now it is reverse - only about 3% of the labor force are making food. More to it - we produce roughly 25% more food than we can consume and it goes to waste. Technological advances made (and keep making) the need to work for survival decrease further and further. Next step is luxury - what was luxury yesterday, is a routine today. 75% of SF homeless have smartphones+services. So, yes, we can build a society where work (even a garbage collector) will be more prestigious than have a "basic income" even though this basic income can correspond to a very high standard of living. Less and less people will be needed in labor force for production. People will be (and already doing that) will be making up professions/services/expertise, which would have been not only useless but laughable yesterday. 'Universal prosperity' of the high living standards with majority of the population just consuming and not producing anything is quite achievable through technological advances. IMHO, 'socialism' is not an economic construct and it is not about economy or prosperity or even good for people - it is a social construct of control and lack of freedom.

[dks]

Great video. No way U.S. teachers could ever understand any of this.

[Earej]

14:30 Mother Theresa was a crook of the worst kind. Countless people suffered and died because of her. It's terrible how many good people hold her in such regard. Her and that awful church.

[magnusdanielsson]

Now make a 1 hour talk steelmaning marx and socialism 😎

[YouilAushana]

Capitalism can be like a game of Monopoly

[niallyshere]

socialism sucks - That's all he should have said