By Hoppe H.-H.
Hoppe offers a cautious definition of what he capability by way of the phrases ''capitalism'' and ''socialism'' after which proceeds to research many variations, together with Russian-style Socialism, Social Democracy, Conservatism, and piecemeal Social Engineering. He additionally explores the availability of so-called ''public goods'' (i.e., nationwide protection, justice, security), and the issues of monopolies in capitalist countries.
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Additional info for A Theory of Socialism and Capitalism: Economics, Politics, and Ethics
It can be completed by recalling the above findings regarding capitalism's and socialism's apparent differences. This will bring out the other side of the personality change caused by socializing, complementing the just mentioned loss in productive capacity. The fact must be recalled that socialism, too, must solve the problem of who is to control and coordinate various means of production. , a matter accomplished irrespective of considerations of previous user-ownership and the existence of contractual, mutually agreeable exchange, but rather by superimposing one person's will upon that of another (disagreeing) one.
This explains why taxation is not, and never can be, neutral. With (increased) taxation a different legal incentive structure is institutionalized: one that changes the relative costs of production for monetary income versus nonproduction, including nonproduction for leisurely purposes and nonproduction for monetary return, and also versus production for nonmonetary return (barter). 11 While income and sales taxation are the most common techniques, they do not exhaust social-democratic socialism's repertoire of redistribute methods.
But it is not, as Marxist socialism would like us to believe, a difference between social planning and no planning at all; on the contrary, as soon as the coordinating mechanisms of socialism and capitalism are brought into the open and reconstructed, socialism's claim to greater efficiency immediately begins to lose much of its credibility, and the opposite thesis appears to be more convincing. How well-founded this thesis indeed is, and exactly why it is that capitalism's, and not socialism's, coordinating mechanism proves to be economically superior will become clear when one turns away from apparent differences and concentrates on real ones instead, and looks at the redistribution of property titles, and hence of income, which is implied in giving up capitalism in favor of a caretaker economy, as characterized above.
A Theory of Socialism and Capitalism: Economics, Politics, and Ethics by Hoppe H.-H.