First my introduction to this topic. Mises means the Austria form of economics. Fredrich Hayek was a famous figure that explained it clearly. Socialists, once you get it, you will run from socialism.
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09/22/2025ā¢Mises Wireā¢Emric Egbert
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In light of recent developments in New York City, specifically on the recent primary elections and the emergence of self-described democratic socialist Zohran Mamdani as a potential mayoral candidate, as well as the increasingly aggressive public engagement of Bernie Sanders and Alexandria Ocasio-Cortez in their tour around the United States, and the fact that AOCās chances of becoming the 2028 Democratic presidential nominee have doubled within one week, it has become clear to me that socialist rhetoric is gaining momentum in American political discourse.
This trend is further reflected in survey data from the Pew Research Center, which shows that approximately 36 percent of U.S. adults aged 18 to 29 now view socialism positively. In response to these developments, it is imperative to contribute to the proper education and clarification of what these socialists are actually advocating for, or even what true socialism truly advocates for.
Friedrich von Hayek, Nobel laureate and one of the most influential economists and political philosophers of the 20th century, once remarked, āIf socialists understood economics, they wouldnāt be socialists.ā Building on his erudition, I would add: If socialists understood socialism, they wouldnāt be socialists.
The true definition of socialism is a social and economic doctrine that advocates for public, rather than private, ownership or control of property and natural resourcesāthe means of production. It is both a political and economic system in which the means of production are owned and controlled collectively by the community or the state, rather than by private individuals. In other words, in practice, the means of production are controlled by a minority political elite.
If Socialists Actually Understood Socialism | Mises Institute
Hayek once remarked, āIf socialists understood economics, they wouldnāt be socialists.ā Building on this, if socialists understood socialism, they wouldnāt be
09/22/2025ā¢Mises Wireā¢Emric Egbert
Print this page
In light of recent developments in New York City, specifically on the recent primary elections and the emergence of self-described democratic socialist Zohran Mamdani as a potential mayoral candidate, as well as the increasingly aggressive public engagement of Bernie Sanders and Alexandria Ocasio-Cortez in their tour around the United States, and the fact that AOCās chances of becoming the 2028 Democratic presidential nominee have doubled within one week, it has become clear to me that socialist rhetoric is gaining momentum in American political discourse.
This trend is further reflected in survey data from the Pew Research Center, which shows that approximately 36 percent of U.S. adults aged 18 to 29 now view socialism positively. In response to these developments, it is imperative to contribute to the proper education and clarification of what these socialists are actually advocating for, or even what true socialism truly advocates for.
Friedrich von Hayek, Nobel laureate and one of the most influential economists and political philosophers of the 20th century, once remarked, āIf socialists understood economics, they wouldnāt be socialists.ā Building on his erudition, I would add: If socialists understood socialism, they wouldnāt be socialists.
The true definition of socialism is a social and economic doctrine that advocates for public, rather than private, ownership or control of property and natural resourcesāthe means of production. It is both a political and economic system in which the means of production are owned and controlled collectively by the community or the state, rather than by private individuals. In other words, in practice, the means of production are controlled by a minority political elite.