wealthcycles.com / By The WealthCycles Staff / December 26, 2012
Ludwig Von Mises teaches us the path to light, by explaining why, logically, centrally planned economies throughout history have invariably failed: In short, all have an unsolvable economic calculation problem. In other words, no human planners can possibly attain the information and understanding that is contained in the most elemental aspect of the marketplace: price
But before we dive into the infinite depths of the problem inherent to central planning, let us look to the solution—the dissemination of truth via the Internet and decentralized nodes of information sharing.
Ideas are more powerful than force, the pen mightier than the sword, and as Thomas Paine could tell you, only one-third of colonists supported freedom from Britain before he wrote his revolutionary manifesto, Common Sense. Paine, the most influential writer in modern human history had a few other basic observations that would only be later explained by logic. Observation of history and the outcomes of human experiences is valuable:
Absolutely. Bring on competing currencies, Internet video verification of physical money and its transfer, and we shall see how long constantly devaluing fiat currencies are preferred over innovative new ways of transacting in real money.
Mises tells us, “everything that happens in the social world in our time is the result of ideas… Ideas and only ideas can light the darkness.”