"Ludwig von Mises’s Socialism is the most important critical examination of socialism ever written.
Socialism is most famous for Mises’s penetrating economic calculation argument. The book contains much more however. Mises not only shows the impossibility of socialism: he defends capitalism against the main arguments socialists and other critics have raised against it. A centrally planned system cannot substitute some other form of economic calculation for market prices, because no such alternative exists. Capitalism is true economic democracy."