By Hoppe H.-H.
Hoppe supplies a cautious definition of what he capacity by way of the phrases ''capitalism'' and ''socialism'' after which proceeds to investigate many editions, together with Russian-style Socialism, Social Democracy, Conservatism, and piecemeal Social Engineering. He additionally explores the supply of so-called ''public goods'' (i.e., nationwide security, justice, security), and the issues of monopolies in capitalist countries.
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Additional info for A Theory of Socialism and Capitalism: Economics, Politics, and Ethics
16 While both countries do well in their respective blocs, West Germany has the highest standard of living among the major West-European nations and East Germany prides itself in being the most well-off country in the East bloc, the standard of living in the West is so much higher and has become relatively more so over time, that despite the transfer of considerable amounts of money from West to East by government as well as private citizens and increasingly socialist policies in the West, the visitor going from West to East is simply stunned as he enters an almost completely different, impoverished world.
Effective work in East Germany is most likely to be found in the underground economy. And in response to the various disincentives to work, and in particular to work in the "officially" controlled economy, there is also a tendency among East Germans to withdraw from public life and to stress the importance of privacy, the family, relatives, and personal friends and connections, significantly exceeding what is seen in the West. 17 There is also ample evidence of misallocation, just as the theory would lead one to expect.
Of all the major countries, in West Germany, where the contact with this type of socialism is the most direct, where millions of people still have ample opportunities to see with their own eyes the mischief that has been done to the people in East Germany, this displacement was the most complete. Here, in 1959, the social democrats adopted (or rather were forced by public opinion to adopt) a new party program in which all obvious traces of a Marxist past were conspicuously absent, that rather explicitly mentioned the importance of private ownership and markets, that talked about socialization only as a mere possibility, and that instead heavily stressed the importance of redistributive measures.