Technocracy vs. Socialism: One Is Economic, The Other Is Political
Ludwig von Mises (1881-1973) was an economist who judged Socialism as a political theory without a cogent economic theory. He was familiar with Technocracy but didn’t see that it was an economic theory without a political system. The Marxists of his day clearly saw that Technocracy was a whack-a-doodle economic system that wanted “nothing less than the abolition of human labor,” which had “become non-essential to society.” Further, Technocracy pointedly said, “There will be no place for politics, politicians, finance, or financiers.”