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Card 10 / 19: What is ironic about the various schemes that can be implemented to "cure" socialism of its problems?
Answer:
In order to solve the problems of socialism, the central planners might (say) allow workers to swap their finished goods with each other and to vote on what gets produced, and the planners might also allow the factory managers some discretion in how much they produce, based on their expectations of customer demand. Yet with each refinement, the system would more closely resemble capitalism. Sample Partial Credit Answer The socialist system turns into a capitalist one.
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Dr.Robert MurphyAssociated Scholar
Mises Institute
USA
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Attribution:
Dr. Robert P. Murphy, Lessons for the Young Economist. (Mises Institute), http://mises.org/document/6215/Lessons-for-the-Young-Economist (Accessed 04 April, 2014). License: Creative Commons BY
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