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Human Action Part Five with Ryan McMaken

Ryan McMaken, an economist and editor of, joins the show to consider Part Five of Human Action: “Social Cooperation without a Market.” This section of the book provides Mises’s updated exposition of socialism, the impossible project of substituting ‘One Will’ for the subjective actions and preferences of everyone in society. Mises gives us the history behind support for socialism, and the enduring appeal of ascribing the best intentions and omniscience to the central state.

Can a socialist system really operate using the division of labor? Can mathematical equations lead us to equilibrium, the final and static price for any good or factor? Can the managerial state make the impossible possible? This is a rewarding discussion of socialism from Mises’s brilliant and radical point of view.

Use the code HAPOD for a discount on Human Action from our bookstore:
Human Action:
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Ryan McMaken
Ryan McMaken is the editor of Mises Wire and The Austrian. Send him your article submissions, but read article guidelines first. (Contact: email; twitter.) Ryan has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.
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