Why Socialism Always Fails | Ludwig von Mises

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Lee Floyd
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Originally recorded at the University of Houston on January 24, 1972.

Ron Paul alludes to this speech in his book 'End the Fed' (pp. 51-52):

"Mises, at the time, was elderly but sharp. His subject was socialism, and his lecture explained why socialism always fails due to the absence of a free market pricing structure for capital goods... The lecture was held in a modest-sized classroom, but the place was overflowing. Popularizing Austrian economics at the time was in its very early stages, but it was obvious even then that there was a starvation for truth in economics."

Note: because of the age and quality of the tape, there are potions of this recording that are suboptimal.

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