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The Crisis of Socialism


  • Huerta de Soto Jesus

    (Universidad Rey Juan Carlos, Madrid)


In my book entitled Socialism, Economic Calculation and Entrepreneurship I explain in theoretical terms what socialism is and why it is an intellectual error, a scientific impossibility, why the socialism which still exists, despite the fall of the Berlin Wall, in the form of economic interventionism in Western countries is the main source of the tensions and conflicts we experience nowadays.

Suggested Citation

  • Huerta de Soto Jesus, 2011. "The Crisis of Socialism," Revista OEconomica, Romanian Society for Economic Science, Revista OEconomica, issue 02, June.
  • Handle: RePEc:oen:econom:y:2011:i:02:id:293

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    References listed on IDEAS

    1. Friedman, Milton, 1982. "Monetary Policy: Theory and Practice: A Reply," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(3), pages 404-406, August.
    2. Friedman, Milton & Schwartz, Anna J, 1969. "The Definition of Money: Net Wealth and Neutrality as Criteria," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 1-14, February.
    3. Friedman, Milton, 1982. "Monetary Policy: Theory and Practice," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 14(1), pages 98-118, February.
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    More about this item


    socialism; capitalism; interventionism; economic science;

    JEL classification:

    • B53 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Austrian
    • P30 - Economic Systems - - Socialist Institutions and Their Transitions - - - General
    • P47 - Economic Systems - - Other Economic Systems - - - Performance and Prospects
    • P51 - Economic Systems - - Comparative Economic Systems - - - Comparative Analysis of Economic Systems


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