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In “Liberty and Property” Mises explains how and why private property is essential to protecting our freedoms and minimizing our exposure to counterproductive social engineering schemes. The main contribution of the industrial revolution, Mises explains, was the great decentralization of wealth which gave rise to “consumer sovereignty.”

In “Middle-of-the-Road Policy Leads to Socialism” Mises pinpoints the essential problem with all forms of interventionism. Whether it is called communism, socialism, planning, state capitalism, or industrial policy, interventionism always signifies the same thing: “No longer should the consumers … determine what should be produced, in what quantity and of what quality. Henceforth a central authority alone should direct all production activities.”

https://mises.org/wire/why-everyone-should-read-these-two-essays-ludwig-von-mises

Thomas J. DiLorenzo

Originally printed in Two Essays by Ludwig von Mises.