
174. Principles of Economics: Interviews with Tom Woods
The Bitcoin Standard Podcast
The Importance of Capitalism
I want to ask you one more thing. A heading that you have on page 236 and I just feel like there's interesting Austrian wisdom tied up in it. And it's simply this, capitalism is entrepreneurial, not managerial. The real insurmountable problem for socialism is how to calculate for a future that has never existed before. Well, what do we do when somebody invents something new? How do we live in a world in which new things are invented?And socialism has no answer for that.
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