Tuesday, October 6, 2015

Venezuela’s Socialist Disaster Proves Austrian Economics Right, Yet Again


September 29, 2015, marked Ludwig von Mises’s 134th birthday. Although the Austrian-born economist passed away 42 years ago, his message remains more relevant than ever. He is widely regarded as one of the main stalwarts of the Austrian school of economics, but his philosophy and legacy go far beyond this field of study.+ Mises was one of the 20th century’s most prominent opponents of socialism. He dedicated his life to proving it was scientifically impossible. As a professor and intellectual, he opposed socialism in the classroom and in books while at the same time fighting for Austrian independence, as Alfred Sonnenfeld writes in his biography. However, Venezuelans who are suffering from socialist policies today can confirm his theories as fact, and various recent events demonstrate the extent of our country’s decay. More…

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