Marxs or Mises Quiz

I am not sure if this is an insult to the Austrian Economists are just general statements about the economy and one supporting it while the other defend it. The quiz can be found here and here are some of the examples:

  1. “The revival of trade… was the dawn of a new industrial epoch. The repeal of the Corn Laws and the financial reforms subsequent thereon gave to English industry and commerce all the elbow-room they had asked for… The colonial markets developed at an increasing rate their capacity for absorbing English manufactured goods… China was more and more being opened up. Above all, the States United then, commercially speaking, a mere colonial market, but by far the biggest of all them underwent an economic development astounding even for that rapidly progressive country… And in proportion as this increase took place, in the same proportion did manufacturing industry become apparently moralised. The competition of manufacturer against manufacturer by means of petty thefts upon the workpeople did no longer pay.”

    Marxist Friedrich Engels
    Austrian Eugen von Bohm-Bawerk

  2. “[The world economy today] is characterised by its highly modern anarchic structure. In this respect the structure of world economy may be compared with the structure of [national] economies typical till the beginning of [the 20th century], when the [economic planning] process, briskly coming to the fore in the last years of the nineteenth century, brought about substantial changes by considerably narrowing the [previously] unhampered “free play of economic forces.” … Still, notwithstanding the fact that modern world economy as a whole represents an anarchic structure, the process of [planning] is [occuring] even here, expressing itself mainly in the growth of international syndicates, cartels, and trusts.”

    Marxist Nikolai Bukharin
    Austrian Peter Leeson



Published in: on December 7, 2008 at 11:32 pm  Leave a Comment  
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