A Theory of Socialism and Capital

ismA Theory of Socialism and Capitalism

Economics, Politics, and Ethics

Hans-Hermann Hoppe

The Ludwig von Mises Institute’s Studies in Austrian Economics

Department of Economics University of Nevada, Las Vegas

Kluwer Academic Publishers Boston/Dordrecht/London Distributors for North America: Kluwer Academic Publishers 101 Philip Drive Assinippi Park Norwell, Massachusetts 02061 USA Distributors for the UK and Ireland: Kluwer Academic Publishers Falcon House, Queen Square Lancaster LA1 1RN, UNITED KINGDOM Distributors for all other countries: Kluwer Academic Publishers Group Distribution Centre Post Office Box 322 3300 AH Dordrecht, THE NETHERLANDS

Library of Congress Cataloging-in-Publication Data Hoppe, Hans-Hermann. A theory of socialism and capitalism : economics, politics, and ethics / by Hans-Hermann Hoppe. p. cm. Includes index. ISBN 0-89838-279-3 1. Socialism. 2. Capitalism. 3. Property 4. Comparative economics. 5. Comparative government. I. Title. HX73.H67 1988 306'.3–dc 19 88-14066 CIP

Copyright © 1989 by Kluwer Academic Publishers. Second Printing 1990. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher, Kluwer Academic Publishers, 101 Philip Drive, Assinippi Park, Norwell, Massachusetts 02061. Printed in the United States of America [p. vi]

Contents

About the Author. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . vii Acknowledgments. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ix 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Property, Contract,...