* The difference between the systems, wrote Mises, is that the German pattern "maintains private ownership of the means of production and keeps the appearance of ordinary prices, wages, and markets." But in fact the government directs production decisions, curbs [[entrepreneurship]] and the labor market, and determines wages and [[interest rates]] by central authority. "Market exchange," says Mises, "is only a sham." [http://mises.org/daily/47] | * The difference between the systems, wrote Mises, is that the German pattern "maintains private ownership of the means of production and keeps the appearance of ordinary prices, wages, and markets." But in fact the government directs production decisions, curbs [[entrepreneurship]] and the labor market, and determines wages and [[interest rates]] by central authority. "Market exchange," says Mises, "is only a sham." [http://mises.org/daily/47] |