The next time someone tells you the Nazis were anti-capitalist, show them this.

[BILLSANDS]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

 

[bripat9643]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

 

[BILLSANDS]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

yes they were you retard

 

[bripat9643]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

yes they were you retard

"Yes they were" what, privately owned?

Not in any real sense. A meaningless scrap of paper on file in some government office doesn't constitute ownership in the economic sense.

 

[BILLSANDS]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

yes they were you retard

"Yes they were" what, privately owned?

Not in any real sense. A meaningless scrap of paper on file in some government office doesn't constitute ownership in the economic sense.

Nationalization was particularly important in the early 1930s in Germany. The state took over a large industrial concern, large commercial banks, and other minor firms. In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s. Privatization was used as a political tool to enhance support for the government and for the Nazi Party. In addition, growing financial restrictions because of the cost of the rearmament programme provided additional motivations for privatization.
Against the Mainstream: Nazi Privatization in 1930s Germany | Request PDF. [accessed Sep 14 2018].

 

[Tehon]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

The Nazi's may have kept a tight grip on the markets but the system of production was fundamentally capitalist.

 

[bripat9643]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

The Nazi's may have kept a tight grip on the markets but the system of production was fundamentally capitalist.

You have no clue what capitalism is. Capitalism means private control of the means of production. That certainly didn't exist in Nazi Germany.

 

[Ringel05]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

This argument has been raging back and forth since the end of Nazi Germany.

Here's a non-revisionist source;

http://piketty.pse.ens.fr/files/cap...storicalGermanAccounts/BuchheimScherner06.pdf

 

[bripat9643]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

yes they were you retard

"Yes they were" what, privately owned?

Not in any real sense. A meaningless scrap of paper on file in some government office doesn't constitute ownership in the economic sense.

Nationalization was particularly important in the early 1930s in Germany. The state took over a large industrial concern, large commercial banks, and other minor firms. In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s. Privatization was used as a political tool to enhance support for the government and for the Nazi Party. In addition, growing financial restrictions because of the cost of the rearmament programme provided additional motivations for privatization.
Against the Mainstream: Nazi Privatization in 1930s Germany | Request PDF. [accessed Sep 14 2018].

As I already explained, the so-called Nazi "privatization" was meaningless. The Nazi government retained control of all the business decisions that private firms would make in a capitalist economy. You keep ignoring that fact and mindlessly repeat your Marxist mantra that the "Nazi regime transferred public ownership to the private sector." It transferred a meaningless scrap of paper. Control remained in the hands of the government.

 

[bripat9643]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

This argument has been raging back and forth since the end of Nazi Germany.

Here's a non-revisionist source;

http://piketty.pse.ens.fr/files/cap...storicalGermanAccounts/BuchheimScherner06.pdf

You mean "here's some commie pinko propaganda."

 

[Ringel05]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

This argument has been raging back and forth since the end of Nazi Germany.

Here's a non-revisionist source;

http://piketty.pse.ens.fr/files/cap...storicalGermanAccounts/BuchheimScherner06.pdf

You mean "here's some commie pinko propaganda."

Right on cue.....

 

[bripat9643]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

This argument has been raging back and forth since the end of Nazi Germany.

Here's a non-revisionist source;

http://piketty.pse.ens.fr/files/cap...storicalGermanAccounts/BuchheimScherner06.pdf

You mean "here's some commie pinko propaganda."

Right on cue.....

Of course, and when morons like you claim 2 + 2 = 5 I'll be "right on cue" stating that it equals 4.

It's sad that idiocies have to be refuted over and over and over.

 

[Tehon]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

The Nazi's may have kept a tight grip on the markets but the system of production was fundamentally capitalist.

You have no clue what capitalism is. Capitalism means private control of the means of production. That certainly didn't exist in Nazi Germany.

Capitalism is a system of production that is based on private ownership of the means of production. The capitalist uses capital to purchase labor, land and material.

 

[Meathead]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Hitler was a socialist who came to grips with the fact he could not realize his dreams of domination with out the war machine that only capitalists were capable of producing. It's a bit like white farmers in Zimbabwe. He was a lot smarter than Mugabe, and now it seems the ANC in SA.

 

[Mac1958]

Oh good, another Nazi thread.

 

[Norman]

Hint:

Nazi = National-SOCIALIST.

 

[McRocket]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

Fine...than where is your unbiased link that factually proves what you are saying?

 

[Ringel05]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

This argument has been raging back and forth since the end of Nazi Germany.

Here's a non-revisionist source;

http://piketty.pse.ens.fr/files/cap...storicalGermanAccounts/BuchheimScherner06.pdf

You mean "here's some commie pinko propaganda."

Right on cue.....

Of course, and when morons like you claim 2 + 2 = 5 I'll be "right on cue" stating that it equals 4.

It's sad that idiocies have to be refuted over and over and over.

Uummm, if your literacy level was above the second grade you might read it and see that it mostly supports what you were saying........ I was referring to his "author" as revisionist...... Oops...... You just couldn't help but stuff both feet in your mouth and chew vigorously, could ya........

 

[francoHFW]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

yes they were you retard

"Yes they were" what, privately owned?

Not in any real sense. A meaningless scrap of paper on file in some government office doesn't constitute ownership in the economic sense.

Nationalization was particularly important in the early 1930s in Germany. The state took over a large industrial concern, large commercial banks, and other minor firms. In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s. Privatization was used as a political tool to enhance support for the government and for the Nazi Party. In addition, growing financial restrictions because of the cost of the rearmament programme provided additional motivations for privatization.
Against the Mainstream: Nazi Privatization in 1930s Germany | Request PDF. [accessed Sep 14 2018].

Only if they were owned by jews or opposition, mainly socialists and communists...

 

[bripat9643]

After I sent him this article, Phil Mirowski also sent me this piece by Germà Bell, “AGAINST THE MAINSTREAM ,” from the Economic History Review. This article also has some fascinating findings. From the abstract:

In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s.

Luckily, Suresh Naidu, the kick-ass economist at Columbia, supplied me with the following graphs.

This first one, which comes from Thomas Piketty’s Captial in the twenty first century, compares the share of national income that went to capital in the US and in Germany between 1929 and 1938. Suresh tells me that the share roughly tracks capital’s rate of return.

ABOUT THE AUTHOR
Corey Robin is the author of The Reactionary Mind: Conservatism from Edmund Burke to Sarah Palinand a contributing editor at Jacobin.

Firms in Germany weren't genuinely privately owned, moron. Government made all the important business decisions, like what to produce, the price for it, wage rates and who worked for the firm. So-called owners were reduced to little more than glorified managers. So-called ownership is meaningless if it doesn't confer any control.

All you socialist douchebags keep trying to ignore that essential fact.

Fine...than where is your unbiased link that factually proves what you are saying?

The Myth of "Nazi Capitalism" | Chris Calton​

German socialism, as Mises defines it, differs from what he called “socialism of the Russian pattern” in that “it, seemingly and nominally, maintains private ownership of the means of production, entrepreneurship, and market exchange.” However, this is only a superficial system of private ownership because through a complete system of economic intervention and control, the entrepreneurial function of the property owners is completely controlled by the State. By this, Mises means that shop owners do not speculate about future events for the purpose of allocating resources in the pursuit of profits. Just like in the Soviet Union, this entrepreneurial speculation and resource allocation is done by a single entity, the State, and economic calculation is thus impossible.

“In Nazi Germany,” Mises tells us, the property owners “were called shop managers or Betriebsführer. The government tells these seeming entrepreneurs what and how to produce, at what prices and from whom to buy, at what prices and to whom to sell. The government decrees at what wages labourers should work, and to whom and under what terms the capitalists should entrust their funds. Market exchange is but a sham. As all prices, wages and interest rates are fixed by the authority, they are prices, wages and interest rates in appearance only; in fact they are merely quantitative terms in the authoritarian orders determining each citizen’s income, consumption and standard of living. The authority, not the consumers, directs production. The central board of production management is supreme; all citizens are nothing else but civil servants. This is socialism with the outward appearance of capitalism. Some labels of the capitalistic market economy are retained, but they signify here something entirely different from what they mean in the market economy.”​