Mises's work compared which two economic systems?
Capitalism and Feudalism
Capitalism and Communism
Feudalism and Mercantilism
Socialism and mercantilism
Answer
Mises's work compared capitalism and communism, and argued that capitalism was the more efficient economic system. He argued that communism was inherently inefficient because it relied on central planning to allocate resources, which was unable to take into account the decentralized knowledge of individual consumers and producers. Mises also argued that communism was incompatible with human nature, as it required people to suppress their natural desire for freedom and self-expression.
The Mises Mastermind Challenge: Test Your Knowledge on Ludwig von Mises!
More Questions
Mises has been described as a leading figure of the 20th-century libertarian movement by whom?
What field was Mises a researcher in, apart from economics?
The'Transmission of the Ideals of Freedom' was written by whom?
Mises is best known for his work on which field of study?
Early in his career, Ludwig von Mises served in?
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