In Sam Tanenhaus’s refresher course on anti-Communists [“What the Anti-Communists Knew,” July], he offers Friedrich A. Hayek’s Road to Serfdom—a classic, no doubt about it. Yet he should be made aware that most of what Hayek learned about socialism was at the knee of his mentor, Ludwig Von Mises, one of the greatest minds this century ever produced, until his death in 1972. Von Mises was the most profoundly creative of the founders of the Austrian school of economics whose free-market theories the world ignored until recent events compelled respectful attention to them.
It was Von Mises’s original paper, “Economic Calculation in the Socialist Commonwealth,” in 1920 which first cracked the very foundations of socialism. He then expanded his argument in a series of articles in 1922 culminating in “Socialism: An Economic and Sociological Analysis,” which demolished point-by-point every premise held by socialist thinkers.
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