Socialism: An Economic and Sociological Analysis

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“This book must rank as the most devastating analysis of socialism yet penned… . An economic classic in our time.” (Henry Hazlitt). More than thirty years ago F. A. Hayek said of Socialism: “It was a work on political economy in the tradition of the great moral philosophers, a Montesquieu or Adam Smith, containing both acute knowledge and profound wisdom… . To none of us young men who read the book when it appeared was the world ever the same again.” This is a newly annotated edition of the classic first published in German in 1922. It is the definitive refutation of nearly every type of socialism ever devised. Mises presents a wide-ranging analysis of society, comparing the results of socialist planning with those of free-market capitalism in all areas of life. Friedrich Hayek’s foreword (not available onliine for copyright reasons) comments on the continuing relevance of this great work: “Most readers today will find that Socialism has more immediate application to contemporary events than it had when it first appeared.”

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Socialism: An Economic and Sociological Analysis, trans. J. Kahane, Foreword by F.A. Hayek (Indianapolis: Liberty Fund, 1981).

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