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189. Is Property Theft? | Dr. Robert Murphy

The Jordan B. Peterson Podcast

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Central Planning vs. Market Signals

This chapter explores the challenges of central planning using historical insights from the Soviet Union, emphasizing the crucial role of market prices in resource allocation. The discussion contrasts the Austrian school of economics, particularly the views of Mises and Hayek on social cooperation and the evolution of cultural practices. It further examines the implications of centralized versus decentralized planning, highlighting the importance of prices and interest rates in economic decision-making and the risks associated with socialist economic theories.

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