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A Theory of Socialism and Capitalism by Hans-Hermann Hoppe

By Hans-Hermann Hoppe

This is Hans Hoppe's first treatise in English - truly his first booklet in English - and the person who placed him at the map as a social philosopher and economist to monitor. He argued that there are just attainable archetypes in monetary affairs: socialism and capitalism. All structures are combos of these varieties. The capitalist version he defines as natural defense of personal estate, unfastened organization, and alternate - no exceptions. All deviations from that excellent are species of socialism, with public possession and interference with exchange.

Within the constitution of socialism, he distinguishes the left and correct model. "Conservative" socialism favors excessive rules, behavioral controls, protectionism, and nationalism. The "liberal" model has a tendency extra towards outright public possession and redistribution.

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True, since the caretaker in a socialized economy also cannot privately appropriate the receipts from the sale of products, but must hand them over to the community of caretakers at large to be used at their discretion, his incentive to produce and sell products at all is relatively weakened as well. It is precisely this fact that explains the lower rate of capital formation. But as long as the caretaker works and produces at all, his interest in gaining an income evidently exists, even if it cannot be used for purposes of private capital formation, but only for private consumption and/or the creation of private, nonproductively used wealth.

On the contrary, it is the very purpose of constructing ideal types to bring out those features which the acting individuals themselves regard as constituting relevant resemblances or differences in meaning, and to disregard those which they themselves consider to be of little or no importance in understanding either one’s own or another person’s actions. More specifically, describing Russian style socialism on the level of abstraction chosen here and developing a typology of various forms of socialism later on should be understood as the attempt to reconstruct those conceptual distinctions which people use to attach themselves ideologically to various political parties or social movements, hence enabling an understanding of the ideological forces that in fact shape present-day societies.

Hans-Hermann Hoppe 39 in which, at the very best, every person remains the caretaker of the things he previously owned. But even in this case each previous user and each contractor would be hurt, as he could no longer sell the means of production and keep the receipt from the sale privately, nor could he privately appropriate the profit from using them the way they are used, and hence the value of the means of production for him would fall. Mutatis mutandis, every nonuser and noncontractor of these means of production would be favored by being promoted to the rank of caretaker of them, with at least partial say over resources which he had previously neither used nor contracted to use, and his income would rise.

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