5min chapter

The "What is Money?" Show cover image

The Psychology of Property | The Stephan Kinsella Series | Episode 4 (WiM235)

The "What is Money?" Show

CHAPTER

Socialization of the Means of Production and the Character Structure of Society

Hoppy: Adopting Russian type socialism instead of capitalism implies giving a relative advantage to non-users, non-producers and non-contractors. He says people will increasingly engage in non-productive and non- contractural activities as time goes on. Hoppy writes that when you have a system that systematically pushes the rewards away from the capitalist normative mode, then you basically are rewarding being a non-user and a non-producer. And so you're going to get less efficient economic output, but you also change the character of people.

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